Moondeng’s Notable 200% Rally: What’s Next?
Moondeng has seen a massive 200% price surge recently. It bounced back strongly from a key support level of $0.03. Now, as it approaches a important resistance at $0.20, traders are on high alert.
The rally started when Moondeng found solid ground at $0.03. This level was backed by strong technical indicators, including a long-term point of control and the value area low. As the price climbs, the next big test is the $0.20 resistance.Bulls will need considerable strength to push through this level.
Moondeng’s rise has caught the eye of many traders.The price is now nearing a technically dense resistance zone. This could lead to either consolidation or a breakout, potentially pushing prices even higher.
- Strong Support at $0.03: Supported by the value area low and long-term point of control.
- Next Resistance at $0.20: Aligned with the 0.618 Fibonacci level,bearish order block,and VWAP from all-time high.
- Momentum Rising: Volume profile suggests a breakout, but consolidation may follow.
Technical analysis shows that the bounce from $0.03 was no accident. This level aligned with the point of control and value area low, creating a strong base for the rally. the $0.20 region is a major resistance, combining several technical tools. This area is crucial for the medium-term trend.
Despite the strong move, traders should watch for potential consolidation. A higher low during this phase would be positive, setting the stage for a breakout above $0.20. If Moondeng holds its gains and forms a higher low, the bullish trend could continue toward $0.31.
Traders should closely monitor consolidation zones and volume shifts. These will guide the next significant move. Check the MoodengUSDT (1D) Chart on TradingView for more insights.
