PENGU price tests trendline as SEC delays ETF decision

PENGU worth is in a downtrend line simply because the Securities and Alternate Fee is pushing again on its determination on a Pudgy Penguins exchange-traded fund.

On the time of writing, PENGU was buying and selling round $0.012, up 0.2% prior to now 24 hours. The token is up about 23% over the previous week, however that rebound hasn’t utterly reversed current weak point.

Over the 30-day interval, PENGU remains to be down 4.4%, with the worth fluctuating between $0.009665 and $0.01363 over the previous seven days. Buying and selling exercise has decreased barely. Day by day quantity got here in at roughly $209 million, down 0.7% from the earlier session.

Derivatives quantity fell 11% to $315 million, whereas open curiosity fell 0.43% to $112 million, in accordance with CoinGlass facts. This means that merchants are decreasing their publicity.

Postponement of PENGU ETF weighs on sentiment

Warning has elevated because of new regulatory developments. Late January 7, the US Securities and Alternate Fee mentioned pushed back to push again the choice on Canary Capital’s proposed Pudgy Penguins (PENGU) ETF by 60 days, pushing the deadline to March 11.

The applying, which was first submitted in September 2025, has now undergone a number of extensions and regulators have but to offer a transparent reply.

One notable facet of the proposed ETF is its design. With plans to record on the Cboe BZX Alternate, it could embrace each bodily Pudgy Penguins NFTs and PENGU tokens, that are based mostly on Solana. This association introduces further complexity.

Regulators are possible reviewing the best way NFTs are priced, saved and reconciled, areas which might be past the scope of most crypto ETF registrations. The markets reacted virtually instantly. After the postponement was introduced, PENGU fell about 6%, demonstrating how intently worth motion stays tied to ETF-related expectations.

The decline got here regardless of continued model momentum for Pudgy Penguins, together with the current “Yr of the Penguin” marketing campaign and the entire visible takeover of the Las Vegas Sphere.

PENGU worth technical evaluation

From a technical perspective, PENGU is buying and selling at an necessary turning level. A descending trendline from November highs round $0.038–$0.040 continued to restrict upside strikes.

The current restoration has pushed the worth again in direction of the $0.0130-$0.0135 zone, an space the place there was continued promoting strain. This vary corresponds to the 20-day shifting common and is close to the middle of the current consolidation, including to its significance as a near-term resistance space.

Momentum has improved barely. The rising demand is indicated by the relative energy index, which presently stands at 58 however has not but reached earlier overbought situations.

The value is buying and selling within the higher half of the Bollinger Bands and general volatility remains to be comparatively small. Though the market has not but indicated which manner it’s going to go, this setup may precede a stronger transfer.

A each day shut above $0.0135–$0.0140 would mark the primary actual shift away from ongoing downward strain. Till that occurs, upward makes an attempt can rapidly fade.

However, the assist ranges are clearly outlined. The $0.0120 space has been defended a number of instances throughout current pullbacks. A failure there would enhance draw back danger in direction of $0.0103, adopted by the broader swing low close to $0.0071, which represents the underside of the cycle on the chart.