What to know:
- PENGU gains 6.81% in 24 hours as trading volume jumps 29.61% to reach $57.23 million.
- Analyst warns a key support breakdown could push PENGU toward the $0.00307 target.
- The PENGU price must close above $0.0097 to invalidate the broader bearish market structure.
The PENGU price analysis on Monday, August 10, 2026, revealed mixed signals from the analysts. The possibility of a break out above the descending trendline is observed, but the overall bearish setup is intact in higher timeframes.
As of writing, Pudgy Penguins (PENGU) is trading at $0.006726, marking an increase of 6.81% in the past 24 hours. The trading volume is showing a strong bullish surge up 29.61% and is currently standing at $57.23 million. Over the last week, the coin price has gone up by 8.54%, according to CoinMarketCap.
Also Read: Solana (SOL) Targets $97.50 After Wedge Breakout and Whale Accumulation
Why $0.0097 Is Crucial for PENGU Price Recovery
Popular analyst Crypto Patel noted that the structure remains bearish. The PENGU price created a double top formation around $0.047 before falling about 89%. Any relief rallies were rejected at the declining higher-timeframe trendline and the surrounding supply regions.
According to the analyst, bears continue dominating the chart under ICT and Smart Money Concepts analysis. Additionally, the token is trading below the higher-timeframe bearish order block.
A breakout of the support level could see the price drop to $0.00307. This will be a huge fall from the reported market price. It will also mark the end of the final lower-low phase of Patel’s bearish formation.
Resistance lies between $0.0085 and $0.0097. The PENGU price needs to make a decisive higher-timeframe close above $0.0097 to break the bearish formation. Until then, the wider declining structure remains unchanged.
What PENGU Price Needs to Maintain Its Breakout
However, another analyst, Aurion, mentioned that the PENGU price has crossed above a descending trendline on a daily timeframe, following several weeks of consolidation. A confirmed hold above that line could signal a momentum shift.
According to Aurion, the next level that should be watched is $0.0066-$0.0068. Support still lies in the $0.0056-$0.0057 area. The analyst said confirmation, a retest, and stronger volume would support the breakout case.
How RSI and MACD Support the PENGU Price Recovery
According to TradingView, the Relative Strength Index (RSI) recorded 59.81. Its moving average is at 47.86. This level stayed above 50 but below the overbought level of 70, which indicates positive momentum without an overbought condition.
The Moving Average Convergence Divergence (MACD) indicator also turned positive. Its MACD line showed a level of 0.000009, higher than the signal line at -0.000053. The histogram is at 0.000061, which indicates positive divergence from both lines.
Traders will watch the daily close and the potential retest of the trend line. The PENGU price needs to move above $0.0097 in order to invalidate the bearish setup.
Until then, the market remains between a short-term breakout signal and unresolved higher-time-frame pressure.
Also Read: SUI Price Eyes $0.72 as Buyers Defend Key Support
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
Be the first to comment