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Despite reaching a high of $96,250 in recent hours, PENGU Coin faced profit-taking challenges. Altcoin investors are still struggling to recover from recent losses. While 2024 presents promising profit opportunities for cryptocurrency investors, the outlook isn’t entirely bright. However, optimism remains for the first two quarters of 2025.
What Will Be the Value of PENGU Coin?
A cryptocurrency analyst known as the Wolf of Main Street conducted a year-end evaluation of PENGU Coin. In December, many investors benefitted significantly from airdrops, with PENGU wallets distributing hundreds of dollars to users.
However, negativity in BTC prices began to erase some of these gains following the Fed meeting. At the time of writing, BTC prices are struggling to maintain the $95,000 mark. The analyst shared the following chart:
“Let’s start a new analysis on PENGU from the same range. I will wait for RL and the blue box unless there is a structural change in favor of an upward trend in the pair. If prices reach buying zones, I will aim for RH as a target.”
Will we see a buying opportunity from the marked level on the chart? This remains uncertain, but if overall market weakness continues into the new year, deeper lows could be expected.
Altcoins and Bitcoin
While BTCD has not experienced a significant pullback, some analysts argue that one may be imminent. Moustache is focusing on the ETHBTC pair, suggesting that a breakout is approaching. A strengthening ETH price against the crypto king could set the stage for a significant rise in altcoins.
“ETH/BTC has been within a descending wedge for 3.5 years. There is no reason not to see a rise in altcoins in 2025. Start the new year on a good note.”
Ali Charts highlighted the BTC chart, predicting a recovery in the upcoming hours.
“TD Sequential shows a buy signal for Bitcoin (BTC) 
$0.000055 on the 12-hour chart. Continuous closure above $94,700 could lead to a recovery up to $97,500. However, losing $92,500 as support would invalidate the bullish signal.”
At the time of writing, BTC is finding buyers above this support level. Given the upward trend, the potential for this long-running boring movement to end is notably strong.
