- PENGU rallied 68% as spot volume surged and SuperTrend flashed a fresh buy signal.
- Short pressure builds near $0.018 as technicals and liquidations align for breakout potential.
Pudgy Penguins [PENGU] has surged over 68% in the past seven days, flipping the SuperTrend indicator to a bullish signal for the first time in months.
This rally follows an extended accumulation phase and has brought the token near a critical resistance at $0.018.
At the time of writing, PENGU traded around $0.0162, showing strong upward momentum. The question now is whether bulls can sustain this rally and trigger the next leg toward $0.028.
PENGU spot market heats up as buyers flood in
The Spot Volume Bubble Map has turned “heating,” pointing to a dramatic rise in buy-side activity across exchanges.
This volume surge reflects renewed market participation and genuine demand rather than speculative derivatives-driven action.
Such a spike often precedes sustained rallies, especially when paired with a strong SuperTrend flip. Therefore, this uptick in spot interest could form a solid base for continued price strength.
If volume holds or climbs further, the $0.018 resistance may fall sooner rather than later, paving the way for a larger bullish extension.
Funding Rates flip mixed: Will shorts trigger the next leg up?
Funding Rates remain conflicted across exchanges.
At the time of writing, while Binance’s Aggregated Rate turned slightly positive at 0.01%, the OI-Weighted Rate remained firmly negative at -0.0329%. This suggests many traders still hold short positions despite the recent rally.
If bullish momentum continues, it could trigger a wave of short liquidations, further amplifying price movement.
Therefore, the lingering short pressure might work against itself, fueling the upside as traders rush to cover positions.
This tug-of-war between sentiment and momentum sets the stage for high volatility.
MACD and SAR alignment reinforces bullish bias
Technical indicators show no signs of weakness.
At press time, the MACD line pushed further above its signal line, indicating rising bullish momentum.
Meanwhile, the Parabolic SAR dots remained below the current price structure, confirming the strength of the trend. Key support levels rest at $0.0151 and $0.0114, while $0.018 remains the critical resistance to beat.
With trend-following tools flashing green, bulls appear to be firmly in control—at least for now. The longer PENGU holds its structure, the more confidence traders may gain.
Source: TradingView
Liquidation cluster ahead: Could $0.018 spark a chain reaction?
The Binance liquidation heatmap shows heavy clusters of short liquidations stacked around $0.0173 to $0.018.
With PENGU trading close to this zone, any push above $0.018 could trigger cascading liquidations, accelerating the uptrend toward $0.028.
These trapped leveraged shorts act as fuel for volatility. Therefore, this price zone is not only technical resistance but a tipping point for a broader market reaction.
A clean breakout could unleash aggressive momentum, drawing even more participants into the move.
Will PENGU breach $0.018 and extend its rally?
The odds are tilting in favor of a breakout above $0.018, supported by rising spot demand, bullish technical signals, and increasing short pressure.
If momentum continues and liquidation clusters are triggered, PENGU could surge quickly toward the $0.028 level.
However, sustained buying pressure is essential—another rejection at $0.018 could stall the rally.
The next few trading sessions will be critical in determining whether bulls can flip $0.018 into a solid launchpad or if the rally fizzles just before liftoff.
