#MOODENGUSDT
Market sentiment for Moo Deng has changed drastically. After hitting an ATH record of US$0.7, investor optimism has faded rapidly. Weighted sentiment, which reflects the collective mood of investors, has turned negative. This condition indicates a decline in confidence in the potential for this token to recover.
This decline in sentiment makes the chances of a quick recovery even slimmer. The declining enthusiasm has also had an impact on decreasing trading volume, which has exacerbated the price plunge. Without any new buying interest, Moo Deng's recovery looks increasingly uncertain, triggering concerns among its supporters.
From a technical perspective, Moo Deng's momentum has also shifted to the bearish side. The Relative Strength Index (RSI) is recorded to have fallen below the neutral line of 50.0, indicating weakening buying pressure and the dominance of bearish momentum.
The decline in the RSI like this reflects the broader market trend for Moo Deng. With the momentum now favoring the sellers, the coinโs price is likely to continue to be under pressure in the near term, which could trigger a deeper decline if the bearish conditions persist.
Given the negative market sentiment and bearish technical indicators, the Moo Deng price is likely to fall further.
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