PENGU Tests Long-Term Breakout Resistance

• PENGU is compressing beneath a long-term descending trendline after months of lower highs and lower lows across the chart.
• A sustained daily close above resistance could shift the structure, while another rejection would preserve the established downtrend.
• PEPE remains range-bound as buyers defend support and sellers continue blocking advances near the upper resistance zone.

PENGU is approaching a major technical barrier after months of consolidation, while PEPE remains locked between defined intraday support and resistance levels.

PENGU Nears a Long-Term Resistance Barrier

ZAYK Charts recently described PENGU as seemingly ready for a breakout. The observation focused on the daily timeframe and descending trendline. That trendline has controlled several recovery attempts across the broader downtrend.

The chart shows a strong rally during the middle of last year. Sellers then established a sequence of lower highs and lower lows. Those reactions gradually created the descending resistance line visible across multiple months.

… Continue reading the full article at the original source below.