The price of Pudgy Penguins (PENGU) continues to face downward pressure, trading near $0.006 as sellers dominate. Analysts note the cryptocurrency is testing a key support level at $0.00578, with a breach potentially leading to further losses. Technical indicators like the RSI and MACD remain in bearish territory, signaling weak momentum and ongoing selling pressure in the market.
The PENGU price remains under bearish pressure, struggling to regain momentum as sellers stay active. Its price is $0.006088, reflecting a daily decline of 2.99% and a weekly drop of 2.85%.
Analyst Crypto TXG highlighted that the price failed to reclaim the $0.00773 level, leading to a move toward key support at $0.00578. A breakdown below this support could shift the market structure lower.
Another analyst, M.G. Sewid, mentioned the asset shows consistent downward movement from its mid-2025 high. “The price is weak until it breaks above $0.00829,” the analyst noted.
Futures trading data from CoinGlass shows volume rose 8.23% to $87.58 million while open interest fell 2.33%. The Relative Strength Index sits at 37.22, indicating weak trend momentum below the neutral level.
Furthermore, the Moving Average Convergence Divergence indicator shows a bearish configuration. The MACD histogram is negative, suggesting continued selling pressure on the price.
