PENGU Needs Weekly Close Above Key Resistance to Signal Direction

Published: 2026-01-11 20:58:26 |

PENGU trades around $0.012 (CoinGecko: $0.0119) after modest gains and remains rangebound. Crypto analyst EliZ warns the token is directionless until it closes above a highlighted weekly resistance zone — moves below that area are “noise” and only technical rebounds. EliZ also points to a green accumulation zone where proper consolidation (time over price) could signal stronger, sustainable buying. TradingView analysis shows a short-term bullish structure: a base formed near $0.0088–$0.0090, a breakout to ~$0.0130, and current consolidation between $0.0121–$0.0122 with higher highs and higher lows. Immediate resistance: $0.0128–$0.0130; support: $0.0115 and stronger at $0.0108–$0.0110. Indicators: RSI ~58–59 (mildly bullish), MACD positive with green histogram. Volume expanded on the breakout and contracted during consolidation, a pattern that often precedes continuation. Key trading cues: maintain above $0.0115 for a bullish near-term bias; a clean break above $0.0130 could open higher targets, while a drop below $0.0110 would risk renewed consolidation. Primary keywords: PENGU, PENGU price, PENGU resistance, accumulation zone, breakout.

Neutral

The report outlines mixed signals: a short-term bullish structure (higher highs/lows, positive MACD, RSI ~58) and volume behavior that suggests buyers participated in a breakout. However, the market lacks conviction until PENGU closes above the identified weekly resistance zone — per analyst EliZ, levels below that are effectively noise. This creates a neutral market implication: short-term continuation is possible if price holds key supports ($0.0115) and breaks $0.0130, but failure to close weekly above resistance or a drop under $0.0110 would likely return the token to consolidation or weakness. Historically, meme coins often display volatile false breakouts followed by rapid chop; therefore traders should wait for confirmation (weekly close or clear accumulation pattern) rather than take aggressive directional bets. For short-term traders: watch support at $0.0115 and resistance at $0.0130 for intraday/ swing setups. For longer-term holders: seek base-building in the accumulation zone and prefer entries after confirmed weekly closes to reduce risk of being caught in technical noise.