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MOODENG: This mode can push it to break through $0.93, provided that .................
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Moo Deng [MOODENG] has decreased by 2.07% in the past 24 hours. As of the time of writing, the trading price of the token is $0.3876.
Its 24-hour trading volume is $133.7 million. In the past week, the token has decreased by 15.97%.
The market capitalization of MOODENG is $383.5 million, with a circulating supply of 990 million tokens. In the past 24 hours, its price has fluctuated between $0.3797 and $0.4042.
In the past 7 days, its price has fluctuated between $0.3232 and $0.5358. Since reaching an all-time high of $0.6804 on November 15, 2024, MOODENG has retraced by 43.3%.
Despite the recent decline, analysts are optimistic about a potential bullish breakout. The descending wedge pattern on the chart suggests that the current downtrend may reverse, leading to a significant price rebound.
Bullish descending wedge and key support level
The price movement of MOODENG shows a descending wedge, a chart pattern that typically signals a potential reversal.
This pattern is characterized by consistently lower highs and lower lows converging to a point, usually indicating a weakening downtrend and an increased likelihood of an upward breakout.
One analyst emphasized that $0.35 is a key support level. This area has held strong multiple times, preventing further declines and becoming a critical accumulation zone.
According to Rose Premium Signals, the next major move will depend on breaking above the upper wedge trendline.
Analysts state: "Breaking the wedge indicates that bullish momentum will continue, with strong upward potential."
Expected price targets after the breakout include $0.56, $0.74, and $0.93. In particular, the $0.93 level is seen as a challenging resistance level that may determine whether further upside is possible.
Market sentiment and trading activity
Market data shows a 31.53% decrease in trading volume, currently at $414.98 million. Open interest has also fallen by 6.52%, currently at $139.12 million.
Although investor sentiment remains mixed, this data suggests a decline in market participation.
Click on the avatar to go live and chat!
Moo Deng [MOODENG] has decreased by 2.07% in the past 24 hours. As of the time of writing, the trading price of the token is $0.3876.
Its 24-hour trading volume is $133.7 million. In the past week, the token has decreased by 15.97%.
The market capitalization of MOODENG is $383.5 million, with a circulating supply of 990 million tokens. In the past 24 hours, its price has fluctuated between $0.3797 and $0.4042.
In the past 7 days, its price has fluctuated between $0.3232 and $0.5358. Since reaching an all-time high of $0.6804 on November 15, 2024, MOODENG has retraced by 43.3%.
Despite the recent decline, analysts are optimistic about a potential bullish breakout. The descending wedge pattern on the chart suggests that the current downtrend may reverse, leading to a significant price rebound.
Bullish descending wedge and key support level
The price movement of MOODENG shows a descending wedge, a chart pattern that typically signals a potential reversal.
This pattern is characterized by consistently lower highs and lower lows converging to a point, usually indicating a weakening downtrend and an increased likelihood of an upward breakout.
One analyst emphasized that $0.35 is a key support level. This area has held strong multiple times, preventing further declines and becoming a critical accumulation zone.
According to Rose Premium Signals, the next major move will depend on breaking above the upper wedge trendline.
Analysts state: "Breaking the wedge indicates that bullish momentum will continue, with strong upward potential."
Expected price targets after the breakout include $0.56, $0.74, and $0.93. In particular, the $0.93 level is seen as a challenging resistance level that may determine whether further upside is possible.
Market sentiment and trading activity
Market data shows a 31.53% decrease in trading volume, currently at $414.98 million. Open interest has also fallen by 6.52%, currently at $139.12 million.
Although investor sentiment remains mixed, this data suggests a decline in market participation.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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