In the early days of 2025, the cryptocurrency market is experiencing upward momentum across several major altcoins, as Bitcoin ($BTC ) dominance has decreased from 58.12% on December 31 to 57% today. This shift has paved the way for tokens such as Pudgy Penguins ($PENGU ) and Peanut the Squirrel ($PNUT ) to exhibit strong gains. Both tokens are now approaching significant resistance levels, which may determine their upcoming trends.
Pudgy Penguins (PENGU)
Pudgy Penguins ($PENGU) has recently demonstrated resilience, bouncing back from several support levels. Today, the token surged more than 15%, rebounding from the $0.036 support zone, and has now entered the critical resistance range between $0.041 and $0.0435. Currently, PENGU is trading around $0.04220, positioned within this key resistance zone.
The 4-hour chart reveals that this price movement is driven by bullish momentum, supported by the following technical indicators:
MACD: A bullish crossover is evident, with histogram bars turning green, signaling increasing positive momentum.
RSI: At 73.21, the RSI suggests the token is approaching overbought territory, but this is not necessarily a bearish signal during strong uptrends.
Should PENGU successfully break through the $0.0435 resistance level, the next potential upside targets would be $0.050 and $0.055, reflecting a potential gain of 34% from the current price. However, failure to breach this resistance could result in a consolidation phase within the $0.041 to $0.0435 range before another attempt to move higher.
Peanut the Squirrel (PNUT)
Peanut the Squirrel ($PNUT) has garnered significant attention following its breakout from a descending triangle pattern near the $0.69 level. This breakout propelled the token to its current price of $0.7606, bringing it close to the critical resistance level at $0.8050.
The daily chart further suggests the potential for continued upward movement:
MACD: A bullish crossover has occurred, with the signal line crossing above the zero line, indicating sustained buying pressure.
RSI: At 47.03, the RSI suggests there is still room for further upward movement before entering overbought conditions.
If PNUT manages to surpass the $0.8050 resistance, it could target $1.57, representing a significant 105% potential gain from its current price. However, a rejection at this level may lead to a pullback or consolidation before additional upward movements.
Outlook: Breakout Potential?
Both PENGU and PNUT are nearing crucial resistance levels that will likely define their short-term trajectories. With strong technical indicators and improving market sentiment, both tokens have the potential to experience substantial gains should they break through their respective resistance zones. Nonetheless, as with all cryptocurrency trading, risks remain, and investors should proceed with caution.
