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<ul class="wp-block-list"><li>$PENGU's price action signals potential upside near the demand zone at $0.0117. </li><li>Market cap growth from $550M to $800M hints at increasing investor interest. </li><li>The shift from downtrend to accumulation on the daily chart suggests a potential bullish reversal. </li></ul>$PENGU's price action shows potential for a bullish rebound, with key support at $0.0117 acting as a critical demand zone. Market structure suggests a shift from downtrend to accumulation, setting the stage for possible upside momentum if support holds.<h2 class="wp-block-heading" id="strong-pengu-s-price-action-shows-bullish-potential-above-0-0117-strong">$PENGU's Price Action Shows Bullish Potential Above $0.0117</h2>$PENGU has a key demand zone at $0.0117, which is critical for any bullish continuation. Ali Charts recently highlighted that as long as the price remains above this level, the possibility of a rebound to $0.0136 remains intact.&nbsp;<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper"> https://twitter.com/alicharts/status/2012693420951625974?s=20 </div></figure>$0.0117 and $0.0126, range price action shows signs of compression, which typically signals that the market is preparing for a breakout. A successful retest of $0.0126 could push the price higher.&nbsp;Holding $0.0117 is key, as if the price falls below this level, the bearish scenario could open the door to deeper retracements. The upward potential remains conditional on the structure holding steady.&nbsp;If the price reclaim $0.0126, it would set $0.0136&nbsp; as the next target. Should support fail at $0.0117, the rebound thesis would no longer be valid.<h2 class="wp-block-heading" id="strong-pengu-s-market-cap-signals-rising-investor-confidence-strong">$PENGU's Market Cap Signals Rising Investor Confidence</h2>The <a href="https://www.coingecko.com/en/coins/pudgy-penguins" rel="noopener noreferrer nofollow">market cap chart of $PENGU over the past month</a> shows a remarkable shift in sentiment. The market cap oscillates between $550M and $600M, reflecting accumulation.Weaker hands exited, and stronger market participants quietly position themselves. Early January, the market cap surged from around $550M to above $800M,.&nbsp;This expansion did not retrace quickly, suggesting more confident investor participation. Therefore, the ability of the market cap to remain elevated after this surge suggests the presence of sustained demand.Following the peak near $850M, the market cap has entered a phase of high-level consolidation, stabilizing between $730M and $800M. This indicates that gains are being absorbed in a re-accumulation phase rather than a distribution phase.As long as market cap stays above $600M, the broader uptrend remains intact.<h2 class="wp-block-heading" id="strong-shift-from-bearish-to-neutral-bullish-market-structure-strong">Shift From Bearish to Neutral-Bullish Market Structure</h2>The daily chart of $PENGU/USDT offers a more macro view of the asset’s price action, indicating a transition from a long-term downtrend to a potential reversal. For months, the price followed a descending trendline, characterized by consistent lower highs and lower lows, indicating distribution and capitulation.&nbsp;<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper"> https://twitter.com/CryptoKing4Ever/status/2010971964072960346?s=20 </div></figure>During this period, a bearish cloud overhead consistently capped price movement. $0.010 and $0.011 is a region where sellers are exhausted, and demand is beginning to outweigh supply.&nbsp;This shift in structure points to a potential trend reversal. Especially after breaking the short-term range and piercing through the lower boundary of the cloud.The post <a href="https://cryptofrontnews.com/pengu-technical-breakdown-will-0-0117-suppo/" rel="noopener noreferrer nofollow">$PENGU Technical Breakdown: Will $0.0117 Support Lead to a Bullish Continuation?</a> appears on <a href="https://cryptofrontnews.com" rel="noopener noreferrer nofollow">Crypto Front News</a>. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.

$PENGU Technical Breakdown: Will $0.0117 Support Lead to a Bullish Continuation?

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