PENGU rallies by 10% as NFT sales drop – Relief bounce or bull trap?

The Pudgy Penguins [PENGU] NFT gross sales have fallen in quantity over the previous week. In response to NFT worth ground knowledge, the variety of gross sales fell by simply over 28% in per week, whereas the NFT’s worth ground remained at 4.20 Ethereum [ETH].

This ground has hovered round 4-4.5 ETH in February to date. In the meantime, over the past 24 hours, the platform’s utility token, PENGU, rallied by 10.06%. After posting a low of $0.0061 on Thursday, 12 February, PENGU climbed by 13.19% on the charts.

On the time of writing, it was buying and selling at $0.0069. Its recent momentum won’t result in lasting good points because of the long-term bearish worth pattern.

How excessive can this PENGU bounce go?

Supply: PENGU/USDT on TradingView

The 1-day timeframe revealed that the swing construction was bearish. PENGU’s breakdown beneath the $0.0071 swing low from June 2025 was proof of this. The press time bounce is probably going a part of a pullback.

The $0.0075 and $0.01 ranges have been the closest, strongest provide zones on the 1-day timeframe.

The technical indicators remained bearish. The OBV has bounced in latest days, however its longer-term downtrend meant that vendor quantity has been prevalent in latest weeks. The RSI was climbing in direction of impartial 50, however won’t obtain an enduring breakout on this timeframe.

Fibonacci retracement ranges yield a extra exact worth goal

Supply: PENGU/USDT on TradingView

Utilizing the H4 chart’s swing transfer decrease within the first week of February, a set of retracement ranges was plotted. They revealed that the press time PENGU worth bounce was not but over.

The transfer might doubtless attain $0.007414 – The 78.6% retracement degree. A much less doubtless situation that merchants ought to nonetheless be ready for is a bounce all the way in which to the $0.008 native highs.

After testing these provide zones, it’s doubtless that Pudgy Penguins‘ utility token costs would start one other bearish impulse transfer.

Ultimate Abstract

• PENGU’s worth motion has been decidedly bearish within the long-term, and buyers needn’t FOMO concerning the latest 10% good points.
• Value bounce might prolong upwards by one other 7%-15% within the coming days.

Disclaimer: The knowledge introduced doesn’t represent monetary, funding, buying and selling, or different kinds of recommendation and is solely the author’s opinion.