PENGU Clings to Critical Support as $0.0134 Rebound Remains in Play

PENGU has entered a decisive technical zone after an extended downtrend, with price action now compressing around a level that traders are closely watching.

According to chart data and technical commentary from Ali Martinez, the market is approaching a make-or-break moment that could define the next directional move.

On the 4-hour Binance chart, PENGU is trading near $0.0089, following a sustained decline from the mid-January highs above $0.0130.

The sell-off accelerated around January 18–19, where price broke below the $0.0110–$0.0105 region and transitioned into a lower-range consolidation. Since then, volatility has narrowed, suggesting that directional pressure is weakening near current levels.

$0.0085 Emerges as the Line in the Sand

Martinez highlights $0.0085 as the key structural support. This level has already been tested multiple times and continues to attract bids, preventing further downside expansion. On the 12-hour chart, price remains above this support despite repeated sell attempts, indicating that sellers have not yet gained full control.

As long as $0.0085 holds, the technical structure allows for a recovery scenario. A clean defense of this zone keeps the higher-timeframe range intact and preserves the possibility of a rebound toward overhead resistance.

Rebound Target: $0.0134 Back on the Radar

From a technical perspective, Ali Charts notes that holding $0.0085 keeps a rebound toward $0.0134 in play. This level aligns with prior rejection highs and marks the upper boundary of the recent distribution range. A move back toward that zone would represent a recovery of roughly 50% from current prices, though confirmation would require sustained acceptance above $0.0107 first.

Volume behavior supports the idea of stabilization rather than panic. While selling spikes appeared during the sharp drop, recent sessions show more balanced volume, suggesting exhaustion rather than aggressive continuation to the downside.

Market Structure Signals a Decision Phase

Price action over the past several days shows narrowing swings and repeated defenses of support, a pattern often associated with decision zones. Failure to hold $0.0085 would invalidate the rebound thesis and expose lower, untested price areas. Conversely, continued defense followed by a reclaim of $0.0100–$0.0107 would shift short-term momentum back in favor of buyers.

For now, PENGU remains technically fragile but not broken. The chart shows a market pausing at a critical level, with the next move likely determined by whether buyers can continue to absorb sell pressure at current prices.

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