PENGU Tests Key Support at $0.01275 Amid Tightening Price Structure and Bullish Long-Term Outlook

PENGU is currently trading at $0.01337, reflecting a 12.7% weekly loss, which has intensified focus on the critical support level at $0.01275. The 24-hour trading range has been confined between $0.012 and $0.01341, establishing clear support and resistance zones that are guiding short-term market behavior.

Despite recent declines, trading volume surged to $151.05 million, indicating robust market participation during this period of volatility. Analysts from Bitcoinsensus highlight that PENGU maintains a bullish trend over the past few months, with key resistance targets set at $0.017, $0.045, and $0.30. The token's price action is compressed within a tightening structure, and a rebound to $0.023 is possible if it holds above the $0.012 support level.

Market data from CoinMarketCap shows PENGU's market cap at $808.01 million, with brief recoveries observed amid the downward pressure. The ongoing price consolidation around mid-November lows suggests a potential base formation, as traders monitor reactions within this narrowed band for future direction.