Moondeng has surged over 200% in current days, bouncing cleanly off a important help zone. Now, with momentum constructing and a large resistance degree in sight, merchants are watching carefully for what comes subsequent.
Moondeng’s (MOODENG) explosive rise started after it discovered stable footing at $0.03, aligning with key technical indicators. As momentum will increase, the following check lies on the $0.20 resistance, the place bulls will want vital power to interrupt by.
Moondeng has caught the eye of merchants and speculators alike after a outstanding 200% value rally. The transfer started from a clear bounce at $0.03, a degree supported by sturdy technical confluence, together with a long-term level of management and the worth space low.
Now, with the worth heading towards a technically dense resistance zone, the market is making ready for potential consolidation or a breakout that might carry costs even larger.
Key technical factors
- Robust Help at $0.03: Confluence of worth space low and long-term POC created a robust base for the bullish reversal.
- Subsequent Resistance at $0.20: Aligned with the 0.618 Fibonacci degree, bearish order block, and VWAP from all-time excessive.
- Momentum Nonetheless Rising: Quantity profile signifies a climatic breakout, however a wholesome consolidation could also be imminent.
Technical evaluation and market conduct
The preliminary bounce from $0.03 was no coincidence, this degree coincided with the purpose of management pulled from Moondeng’s all-time excessive, in addition to the worth space low. These overlapping indicators created a high-probability zone for demand to step in, and it did, resulting in the speedy 200% spike.
Presently, Moondeng trades in a zone of heightened consideration. The $0.20 area represents a serious resistance, combining a number of technical instruments: the 0.618 Fibonacci retracement from the all-time excessive, a key bearish order block, and VWAP resistance from the identical excessive. This cluster of resistance is just not solely a technical problem for bulls but additionally a make-or-break space that might dictate the medium-term pattern.
Regardless of the power of the transfer, merchants ought to look ahead to potential consolidation. The amount profile reveals a climatic spike, a sign that usually precedes sideways motion. A better low forming throughout this part could be constructive, preserving the bullish market construction and setting the stage for a breakout above $0.20.
What to anticipate within the coming value motion
If Moondeng manages to carry its current positive aspects and set up a better low, the bullish pattern might proceed towards the $0.20 resistance, and past. A profitable breakout from this degree would seemingly open the door to $0.31, marking the following main technical goal. Merchants ought to monitor consolidation zones and quantity shifts carefully, as these will information the following vital transfer.
