PENGU, the token tied to the Pudgy Penguins ecosystem, is testing a key resistance level after recovering from its mid-September low, with analyst Ali Charts anticipating another breakout attempt. According to the analyst, the token has tested the upper boundary of its trading channel at $0.0106 three times, and he is watching for a renewed push above that level.

Ali Charts Points to Repeated Resistance Tests

In a post on X, Ali Charts said PENGU has made three attempts to break above the channel's upper boundary at $0.0106. Repeated tests, he noted, could weaken the resistance level and potentially allow price to move higher.

The analyst identified $0.0153 as a potential target should PENGU decisively break above $0.0106. He also described current prices as a possible accumulation opportunity — a characterization that reflects Ali's own assessment rather than a confirmed market outcome. That framing underscores how channel-based targets remain conditional: the upside scenario only comes into play if price clears $0.0106, which is why each retest of that boundary carries weight in the setup he describes.

Ali additionally pointed to Pudgy Penguins' activities at Korea Blockchain Week — an annual blockchain industry event held in Seoul — citing the event as a possible fundamental catalyst that could support another breakout attempt.

Pullback After September Rally

PENGU's four-hour chart, published via TradingView, shows a recovery from approximately $0.0068–$0.0070 on September 16. The token subsequently rallied toward the $0.0100–$0.0110 range, with trading volume expanding notably between September 22 and 24.

The advance, however, failed to sustain above $0.0110, and the token then formed lower highs. Price retreated toward $0.0090 before reaching $0.009444, with the latest candle gaining 3.01%. The $0.0090 level now represents near-term support, while a sustained move above $0.0100 could bring the $0.0105–$0.0110 resistance range back into focus. Notably, the chart-derived $0.0105–$0.0110 zone overlaps the $0.0106 channel boundary Ali highlighted, so both his channel framework and the four-hour price structure point to the same area the decisive level on the upside.

Momentum Indicators Show Short-Term Weakness

Momentum readings point to short-term softness. PENGU's Relative Strength Index stands at 45.41, below its average of 49.07. The reading remains above the oversold threshold of 25, although momentum sits under the neutral 50 level.

The MACD likewise reflects weakening momentum, with its line at -0.000092 and its signal line at 0.000017. The histogram is negative at -0.000109, indicating bearish short-term momentum.

Taken together, holding above $0.0090 could allow PENGU to consolidate and retest $0.0100. A break below that support, however, could expose $0.0080, followed by the $0.0070 region. With momentum indicators currently skewed soft while the channel setup points toward a potential breakout attempt, the interaction between $0.0090 support and the $0.0105–$0.0110 ceiling offers the clearest reference points for tracking how the setup Ali outlines develops.