PENGU has officially dropped back to the 2-cent zone, the exact level that some traders, like Ryan PT, warned about weeks ago.
At the time, the community wasn’t thrilled with that prediction, but the chart has now proven him right. And according to Ryan, this crash might not be as random as it looks.
What you'll learn 👉
A Crash That Might’ve Been Planned
In his latest update, Ryan admitted he’d tried to be “more optimistic” after his initial bearish call was met with criticism. But markets don’t care about optimism, and here we are, right at 2 cents.
He says the drop feels “orchestrated,” like someone wanted to reset the board after things got too hot too fast. Still, he doesn’t see this as a bad thing. In fact, he thinks this could be one of the better accumulation opportunities we’ve seen in a while.
“If we can’t hold this 2-cent mark, $0.017 and $0.015 are next,” he said, reminding followers that the last time PENGU price touched those levels, it bounced nearly 200%.
What the PENGU Chart Is Saying
Looking at the chart, PENGU is clearly sitting inside a descending channel, with multiple touches on both the top and bottom trendlines. The PENGU current price is around $0.0209 and is testing that lower boundary again, sitting right on top of the 200-day moving average.
That’s usually a make-or-break area. If buyers defend it, we could see a strong rebound. If not, the next supports are down at $0.017 and $0.015, the exact levels Ryan mentioned.
@RyanPhilli52326/X
The RSI is also hovering near 35, which puts it in oversold territory. Combine that with slightly higher volume on this dip, and it’s clear that some traders are already stepping in to buy the fear.
If we do see a bounce, the first resistance to watch is $0.0235, followed by $0.0278. Breaking out of the descending channel would open the door to a retest of $0.035-$0.04, which matches the upper targets on the chart.
Read Also: This Chart Suggests Pudgy Penguins (PENGU) Next Rally Is Close
What’s Next for PENGU?
The mood around PENGU might be mixed, but technically, it’s still in a spot that screams accumulation. The structure hasn’t broken, it’s just cooling off after an overheated run.
Ryan summed it up perfectly: “Optimism doesn’t defend the psychology of the markets. Don’t let outside influence influence your research and decisions.”
For now, the 2-cent zone is where the real story unfolds, and whether it’s the start of a rebound or one more flush lower, the PENGU price setup looks like it’s building for the next big move.
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