PENGU Targets $0.082 After Bullish Cup and Handle Formation, Says Analyst

Cup and handle setup projects $0.080–$0.082 target if $0.045 resistance breaks on strong volume.

RSI at 61.94 and rising A/D line signal sustained bullish momentum without overbought pressure.

Key supports at $0.035 and $0.030 could limit downside if breakout attempts fail.

A recent technical setup has placed Pudgy Penguins token, PENGU, in strong position for a potential breakout scenario. According to analyst Ali, the asset is forming a cup and handle pattern that could push prices toward $0.082 if resistance is broken

The bullish case builds on several developments, including a pending ETF filing with CBOE backing, active SEC review of the application, and notable market growth in Asia that has earned the token the nickname “Asia’s $DOGE.”

Cup and Handle Outlook Points to Breakout

Price shows the cup pattern began in early January 2025, with PENGU falling from about $0.045 to $0.008 in May. Following this low, the market saw steady recovery, driving prices back to the $0.045 resistance in early August

Pudgy Penguins 1-day price chart, Source: Ali on X

The handle is now forming between $0.033 and $0.040, with consolidation suggesting preparation for a possible upward move. The $0.045 level is the neckline of the pattern

A measured move from the cup depth of roughly $0.037 places an upside target near $0.080–$0.082, provided the breakout occurs on strong volume. A close above this resistance would likely confirm the pattern’s completion.

Indicators Show Bullish Momentum Building

The RSI is at 61.94, with a moving average of 58.18. This reading shows bullish momentum without entering overbought levels, with potential for further gains. In past rallies during June and July, the RSI crossed above 70 before subsequent pullbacks.

PENGU/USDT 1-day price chart, Source: TradingView

The Accumulation/Distribution (A/D) line, though at -27.83B, has trended strongly upward since mid June. This steady climb shows sustained buying pressure, even during minor pullbacks, supporting the potential for another test of key resistance zones.

Key Levels to Monitor

Short term resistance is at $0.0419, with $0.045 the major breakout level. Support levels are at $0.035 for short term stability, followed by a deeper base near $0.030. A decisive break above $0.045 could accelerate momentum toward $0.05 and beyond. However, a rejection at this level could see prices return to $0.035 or even $0.030, depending on broader market conditions.

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