Penguin Cryptocurrency (PENGU) Forecast: Elliott Wave Configuration Indicates Potential Highs of $0.065 and $0.110
In the cryptocurrency world, Pudgy Penguins (PENGU) is making waves, and the community's optimism is growing. A renowned analyst, known as Bluntz, has identified PENGU as a potential target for significant growth based on Elliott Wave counts. Bluntz is recognised for his Elliott Wave approach and his technical analysis, which he shares with his followers on X (formerly Twitter).
The PENGU price prediction now stretches towards $0.065 as the first major target, with a more ambitious extension towards $0.110. This bullish forecast is fueled by the growing presence of Pudgy Penguins at events like KBW and TokenSG, which is contributing to a bullish narrative.
The consolidation around $0.034 to $0.035 has provided a steady foundation for PENGU. If PENGU successfully defends these support bands, it sets the stage for another bounce higher. Key moving averages are acting as a safety net for Pudgy Penguins, with the retest happening around $0.034 to $0.035, a zone where buyers continue to step in.
The sentiment around PENGU is leaning heavily bullish, with community members increasingly framing $0.05 as the next likely target. Prediction markets show a clear bias towards upside, with a majority betting on the token holding strength rather than breaking lower. If momentum holds, we could see another strong leg higher for PENGU sooner rather than later.
The Elliott Wave count suggests that the 1-2 base in PENGU's chart structure is complete, and a potential third wave is beginning to shape up. This setup is becoming hard to ignore, as PENGU finds itself at a decisive moment. Maintaining these averages is key to keeping the recovery path intact for Pudgy Penguins.
PENGU has broken its multi-month descending trendline and is retesting this breakout zone as support. As it approaches its MA-200 and EMA-250 support band, a critical zone for sustaining bullish momentum, the community's focus on $0.05 and external visibility are contributing to the bullish momentum for PENGU.
If PENGU holds this support, it could open up targets towards $0.038 and $0.041, with a possible extension into the $0.046 range. The bullish outlook for Pudgy Penguins is gaining traction, making it an exciting project to watch in the cryptocurrency market.
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