PENGU Surges 80% Following Significant Dip: Is $0.13 the New Goal?
PENGU experiences a 13% recovery after a rapid drop, with analysts forecasting a potential rise to $0.13.
After a steep decline last week, PENGU has seen a 13% increase in the past 24 hours, bouncing back 80% from a low of $0.014 during the market crash.
Channel Support Remains Evident
Based on a chart from analyst Ali Martinez, PENGU is maintaining its position within a descending channel established since July. Although the recent drop caused a significant wick below this channel, it ultimately closed back inside it. Currently, the asset is trending towards $0.026, with support at $0.023.
“What occurred on Friday was far from ordinary; some refer to it as a black swan event while others attribute it to sheer market manipulation.”
Most graphs now depict extreme downward movements, yet if we filter out the noise, $PENGU is sustaining its structure.
“If $0.023 holds, a push towards $0.13 is anticipated.” Ali (@ali_charts) on October 13, 2025
The analyst further expressed that last Friday’s drop was not typical, categorizing the incident as a “black swan”. Despite this volatile movement, the price pattern remains valid. Should the support hold, a rise toward $0.13 is plausible based on breakout predictions from the channel.
An insightful analysis from CryptoPulse points to a bullish flag in the daily chart, indicating that after dipping below, the asset quickly returned inside the pattern, driving sentiment towards a projection of $0.032 to $0.034.
It is crucial to note that this analysis hinges on the asset maintaining a position above the lower trendline, as a drop below this could alter the projection significantly, with $0.017 as the next support level to keep in mind. Presently, higher lows continue to form along this support line.
Momentum Indicators Show Recovery
Short-term indicators appear to indicate recovery. On the 4-hour Bollinger Bands chart, PENGU’s price has rebounded above the middle band, facing resistance around $0.0296. The MACD line has crossed the signal line, and the histogram is showing positive momentum, hinting at a shift in favor of buyers.
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Market Data
Source: TradingView
Market data indicates a notable shift in trader positions for PENGU, with the long/short ratio surging from below 0.80 on October 10 to over 1.10 by October 12. Increased buying activity is outpacing selling, suggesting improved bullish sentiment among traders.
Trader Positioning
Source: Coingass
Current trends reflect a growing positive sentiment towards a breakout, provided support levels are upheld.
