Date: Thu, Oct 02, 2025 | 04:14 AM GMT
As the much-anticipated Q4 kicks off today, the cryptocurrency market is showing strength as both Bitcoin (BTC) and Ethereum (ETH) surged over 3% and 5% in the past 24 hours. Riding this momentum, several altcoins are flashing bullish signals — and Pudgy Penguins (PENGU) is one of them.
PENGU is back on the bullish track with 14% gains, and more importantly, its price chart is signaling a harmonic structure that could point to further upside in the near term.
Harmonic Pattern Hints at Potential Upside
On the daily chart, PENGU is forming a Bearish Cypher harmonic pattern. Despite the bearish label, this setup often delivers a strong CD leg rally before the price action nears its Potential Reversal Zone (PRZ).
The structure began at Point X ($0.046600), corrected to Point A, rebounded to Point B, and then sharply dropped to Point C ($0.026240). Since then, PENGU has bounced strongly, reclaiming its 200-day moving average (MA) and is now trading near $0.03174, showing notable resilience.
The immediate resistance to watch is the 50-day MA at $0.03186. A sustained breakout above this level would confirm bullish momentum and set the stage for higher moves.
What’s Next for PENGU?
If bulls manage to reclaim the 50-day MA, the CD leg could extend toward the PRZ between $0.04253 (0.786 Fibonacci extension) and $0.04660 (1.0 extension). These levels are critical upside targets, as they often mark the completion of the cypher pattern.
On the flip side, PENGU must hold support near the 200-day MA ($0.03014). A breakdown below this level could invalidate the harmonic structure and weaken the bullish case.
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