Pudgy Penguins, Lufthansa Team Up as PENGU Tests Key Support

• Pudgy Penguins collaborates with Lufthansa’s Miles and More.
• The announcement comes at a time when the price of PENGU is at a significant level, testing a prime convergence zone

Pudgy Penguins (PENGU) has recently publicized that it is going to have a collaboration with Lufthansa’s Miles and More, the frequent flyer program owned and operated by the Lufthansa Group

The Group also offers a new utility to its The Huddle, the Pudgy Penguins community. The partnership allows users to earn airline miles via purchases they make on the Pudgy Shop. Both purchases will be considered either using PENGU or Fiat

The redemption limit is 300 Miles and More partners for flights, travel experiences, and other rewards. To start earning, users first need to create an account on the Pudgy Penguins shop, after this they need to link both accounts using the dedicated pop-up on the Pudgy Shop

The Significant Price Level

After linking, each transaction made via the store will be added to their miles balance. The announcement comes at the time when the price of PENGU is at a significant level, testing a prime convergence zone marked by both the ascending trendline and a horizontal first support range of $0.0093, followed by a second range of $0.0090

The ground has so far worked as resistance but not as a support level with an increasing trendline since early April, making it a technically notable level. The RSI hovers around 40, and at the same time, MACD has mentioned a bearish crossover, with histogram bars broadening, both indicating increasing downward pressure

As the price level at the convergence of two significant supports, there is a reasonable chance for a bounce if purchasers step in here. If PENGU price bounces from the recent convergence zone, the next significant level to see beyond the 20 EMA and 50 SMA is the current swing high around $0.013

A breakout surpassing the $0.013 level would confirm a higher high, indicating a probable continuation of the wider uptrend. If the support breaks, the price could fall to $0.0075 next, which acted as resistance at the time of the March consolidation.

However, in the past 24 hours, the price of PENGU dropped 15.51% and is hovering at $0.009304

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