PENGU price re-tested the triangle breakout level of 0.00773 as traders watched the four-hour candle close, 0.00800 resistance, and support near 0.00760.
- The PENGU price is back at the former triangle resistance level of 0.00773, which has now become support.
- A four-hour candle closing above the re-tested trendline will keep the bullish breakout pattern intact.
- The resistance levels from 0.00790 to 0.00800 continue to impede recovery.
- Trading volume rose by 37.22% as market capitalization touched 484.3 million.
PENGU Re-Tests Symmetrical Triangle Breakout Level
The price of PENGU has returned to the resistance of the symmetrical triangle that broke at 0.00773. The market is now awaiting the closure of the four-hour candle to see whether the resistance line can act as support.
This retest came after PENGU broke out from the symmetrical triangle formed as two lines converged. The upper line was falling while the lower line was rising under successive lows. Eventually, the price broke out from the falling resistance.
According to Alpha Crypto Signal, 0.00773 is an important level for this trading setup. The analyst says the four-hour candle must close above the reclaimed trendline to preserve the breakout pattern. Otherwise, the consolidation range may take over.
Resistance 0.00800 In Intraday Recovery
In the past 24 hours, PENGU traded around 0.007704, down 1.22%. On the intraday chart, the price initially moved around 0.00770, then rose toward 0.00780. However, sellers pulled it back below that level, pushing it near 0.00760.
Then buyers staged a strong recovery, and PENGU climbed to 0.00800. Even though the move showed active buyer participation, multiple reversals at the upper end suggested resistance is still present.
Right now, the 0.00790 to 0.00800 range is crucial. PENGU reached this area but has not made any sustained trades above 0.00800. A successful penetration could lift recovery and make recent high levels vulnerable. Trading volume grew by 37.22%, while market capitalization was approximately 484.3 million.
Four-Hour Candle Close Determines The Direction For Next
The four-hour timeframe remains key to the latest analysis of the PENGU price. Previously, moving averages suggested the downtrend would continue, but the price bounced off those lines after a triangle pattern formed.
A daily close above 0.00773 would keep the reclaimed support line intact. Buyers may then attempt to push price toward the local highs again, with 0.00800 acting as the resistance level to break.
On the other hand, a reversal back into the triangle pattern would undermine the breakout. That could pull price back into the prior consolidation range and make investors question the bullish continuation scenario.
The 0.00770 area is also worth monitoring, as price has tapped it multiple times during intraday sessions. Breaking through could open the way toward 0.00760.
PENGU Breakout Confirmation
The next four-hour candle is expected to confirm whether buyers can sustain the former resistance line. Failure to hold above 0.00773 would be a strong sign the breakout attempt was unsuccessful, while rejection could shift focus back to the previous price range. For now, the retest remains undecided, and PENGU traders are watching the 0.00773 support zone and the 0.00800 resistance.
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