Key Insights
- •PENGU must reclaim $0.030 resistance to confirm a bullish reversal toward the $0.036 target.
- •Bearish indicators dominate, but oversold signals suggest potential for a short-term PENGU rebound.
- •ETF review and NFT market trends may influence PENGU’s ability to recover above the $0.030 level.
Pudgy Penguins (PENGU) is showing renewed attention after the token failed to hold its $0.030 support level. Market sentiment turned cautious as analysts noted that the asset has shifted this zone into resistance, increasing short-term selling pressure.
PENGU Market Overview and Current Trading Levels
According to data from CoinCodex, PENGU is trading at $0.014523, reflecting a 4.32% decline over the past 24 hours. Furthermore, PENGU remains 29.26% above the projected November 11, 2025 prediction of $0.011235 but continues to trade within a bearish structure.
Subsequently, crypto analyst Lennaert Snyder noted on X that PENGU is now testing the $0.03 area as resistance after a failed breakout attempt. Snyder stated that the token must reclaim this level to confirm a bullish reversal, identifying $0.036 as the next upward target. He also pointed to $0.023 as a possible support level for long positions once confirmation is seen.
Technical Conditions and Indicator Analysis
Technical indicators show mixed conditions for PENGU. The Relative Strength Index (RSI 14) is currently near 31, which signals neutral momentum after recent oversold readings.
The broader market remains weak, with the global Fear and Greed Index standing at 27, suggesting a climate of investor caution. PENGU has faced downward pressure along with other meme and NFT-related assets amid declining enthusiasm in the NFT sector.
The token trades below both its 50-day and 100-day moving averages, while resistance zones are established between $0.016065 and $0.017936. Support levels are located near $0.014194, $0.012988, and $0.012322. Analysts suggest that a move above $0.0165 could be the first sign of recovery if buying pressure increases.
External Factors Influencing Price Outlook
PENGU’s price trend is also tied to developments beyond technical metrics. The proposed Cboe BZX hybrid ETF, which includes 80–95% PENGU and 5–15% NFTs, is currently under SEC review. Analysts such as Eric Balchunas have estimated a 50% approval chance by late 2025. Any progress in this review could attract institutional interest.
Meanwhile, the NFT market’s continued decline adds pressure. Pudgy Penguins’ NFT floor price dropped from 10 ETH to 7.21 ETH in October, reflecting weaker ecosystem demand. Analysts suggest that recovery in NFT sentiment or positive ETF updates could provide the momentum needed for PENGU to reclaim $0.030 and target $0.036 in the weeks ahead.