Pudgy Penguins (PENGU) is holding firm near critical support after a 15% pullback, and on-chain signals suggest buyers may be quietly building positions. The token has repeatedly defended the $0.028 area, showing resilient demand even as price drifts lower inside a corrective channel that resembles patterns seen before earlier impulsive rallies.
The technical setup points to a potential shift in momentum. Momentum indicators are flashing early bullish signs: the RSI remains in a downward trend but is contained within a tightening wedge, while the MACD has begun to curve upward from oversold territory. Analysts, including Osemka on X, highlight bullish divergence across both RSI and MACD — a divergence that often appears when price action weakens while underlying momentum strengthens.
“Bullish divergence across both RSI and MACD”
If PENGU can break decisively above the corrective channel, that built-up momentum could fuel a run higher, with $0.035 a key level to watch. Confirmation, however, requires a clear channel breakout accompanied by follow-through buying.
Whale activity reinforces the narrative of accumulation during consolidation. On-chain platform Stalkchain reported a single whale purchase of roughly $320,000 worth of PENGU, signaling confidence from larger players who may be using the corrective phase to add exposure. Such sizable entries around support zones often precede sharper recoveries if follow-through buying materializes.
Risks remain: the wider crypto market and overall liquidity will influence whether buyers can sustain a breakout. For now, the combination of defended support, bullish divergences on RSI and MACD, and notable whale accumulation gives Pudgy Penguins a plausible path back above $0.035 — but confirmation requires a clear channel breakout and continued on-chain buying pressure.
- Support defended: $0.028
- Recent pullback: 15%
- Technical signals: RSI wedge tightening, MACD curving up, bullish divergence noted
- Whale activity: ~$320,000 single purchase reported by Stalkchain
- Key target to watch: $0.035 (requires channel breakout and follow-through)
