- PENGU is trading at $0.01337 due to a 12.7% weekly loss and this is causing focus to the support level of $0.01275.
- The 24-hour range was also maintained between $0.012 and $0.01341 giving that there was a clear support and resistance level.
- Only when the price activity above the lines of $0.012, a chart-marked rebound level of near $0.023 would come into effect.
This week saw PENGU enter into a critical period, with the price action squeezed around a key support area. The token is now trading at $0.01337 with a weekly drop of 12.7 percent, which has put much emphasis on the $0.01275 support level. This region is located slightly above the bigger $0.012 mark which most of the traders have come to consider as a critical point.
The recent pullback also followed a wider downtrend that began after the token failed to sustain its earlier range highs. However, the market continues to track whether price stability emerges around the highlighted support band before volatility increases again. This setup now guides short-term expectations as participants assess the next movement.
A Tight Trading Band Forms as Price Compresses Toward Key Support and Resistance Zones
The market was brought nearer to a support level that was identified during the previous session. The range of 24 hours was between $0.012 and $0.01341 with contained yet smooth movement. The level of resistance of $0.01341 also highlighted the significance of the resistance at this level, which now constrains the upward moves in the short-term.
Notably, the chart highlights a potential defense attempt at the $0.012 line, which aligns with the current zone of interest. This creates a structured area where traders evaluate short-term liquidity behavior. The price decline also maintained attention on trading reactions inside this tight band. As the structure narrows, the next section of movement becomes easier to track.
Price Action Compresses Ahead of Expected Tests
Market behavior tightened further as PENGU hovered near its mid-November lows. The contraction created a clearer reference for movement as volatility declined. This development also linked directly to the earlier drawdown, which pushed the token from its prior local range.
With this context, the market now watches whether the current zone forms a temporary base. The narrowed structure helps traders follow the next reaction more closely.
Resistance at $0.01341 Outlines Next Price Marker
The $0.01341 resistance line remains the nearest level to observe during any upward attempt. It provides a straightforward threshold for evaluating shifts in market strength. The projected target near $0.023 appears on the chart as a potential future level if price activity holds above support. However, the immediate emphasis stays on the $0.012–$0.01275 zone, where traders follow each reaction inside the tightening structure.
