Tldr:
- PENGU/USDT maintains a strong demand zone after three retests, forming a higher low indicating growing buyer strength.
- The price is testing a long-term downtrend line, and a breakout would likely confirm a shift towards bullish momentum
- Fibonacci levels indicate upside targets at $0.015 and $0.020 as the price exits the accumulation phase
- Failure to break the resistance could take the price back to $0.006, keeping PENGU/USDT within its specified range.
Pledge/USDT It is showing early signs of a possible trend reversal after holding the key demand zone for the third time.
The weekly chart structure now indicates a shift from prolonged downward pressure towards a more positive price setting.
Stability of the demand zone enhances the reversal condition
The latest analysis shared by Whale Factor indicates a developing reversal structure on the PENGU/USDT weekly chart.
The post describes the classic accumulation pattern followed by a breakout attempt. It is also noted that the asset has tested the same demand zone three times.
The $0.0045-$0.0060 range continues to act as a strong base. Each retest produced a bounce, the last forming a higher low.
This pattern indicates that buyers are getting involved earlier than before. As a result, the PENGU/USDT pair is showing signs of gradually building strength within this range.
This demand zone has remained intact despite extended selling pressure earlier in the trend. Repeated defense of this level indicates its continuation Buyer’s interest. Meanwhile, the formation of a higher low indicates a shift in the short-term structure.
In addition, the broader price trend has been bearish, marked by lower highs and lower lows. However, the current setup indicates a possible transitional phase. If the support continues to hold, the structure may favor further upward attempts.
Testing the trend line and Fibonacci levels determines the next moves
PENGU is now testing the descending resistance trend line that has capped prices since mid-2025. This level represents a major barrier that has rejected several upward attempts. Clean Go Above this line would change the broader trend outlook.
The current price is located near $0.0095, slightly above the demand zone. According to the shared chart, Fibonacci retracement levels identify potential upside targets. The first level to watch is around $0.015, followed by the $0.020 to $0.025 range.
These levels correspond to the 0.786 and 0.618 retracement areas. They often act as areas where the price may stop or encounter resistance. If the momentum continues, it is possible that PENGU will move through these levels in a gradual manner.
The expected path indicates a breakout followed by a short pullback. After that, a continuation to higher levels may occur if buyers maintain control. This structure reflects a controlled upward movement rather than a sharp rise.
On the other hand, failure to break the trend line may shift focus back to support. Rejection at this level could push the price towards $0.006. if Request area breaks, the current setting will not continue.
Currently, the structure remains intact, with the trend line acting as the immediate decision point. Market participants are watching whether PENGU can maintain momentum above resistance or return to consolidation.
