PENGU price breaks out with 40% surge, eyes $0.015 ahead of potential ETF approval

PENGU price has exploded out of a multi-week consolidation phase, jumping 38% in the past 24 hours amid rising volume, eyeing $0.015 next.

Pudgy Penguins (PENGU) just surged 40% in the past 24 hours, breaking out of multi-week accumulation phase marked by sideways movement and low volatility. It’s now testing the previous resistance level at $0.008 – $0.010 — the zone that previously marked the breakdown level in early March before the extended consolidation between $0.004 and $0.006 began.

The breakout was supported by a clear surge in volume and momentum indicators flashing bullish signals. RSI broke past 70 and MACD has just crossed into bullish territory, with MACD line climbing well above the signal line and both trending higher. The price has also closed above both the 20-day EMA and 50-day SMA for three consecutive days — the first time in months — signaling a potential shift in trend.

With volatility returning to the chart as average true range starting to climb since April 21, conditions are ripe for continued movement.

Once PENGU breaks above the immediate resistance at $0.010 and holds with good volume, the next key level to watch is around $0.015 — another psychological zone where selling pressure mounted in late January, which might act as the next major resistance. A more ambitious target lies around $0.022, where strong horizontal support formed following a leg down and held steady from mid to late January.

One major catalyst that could drive PENGU’s price even higher in the coming months is the potential approval of the pending PENGU ETF filed by Canary Capital.