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The Mochi price slumped 8% in the past 24 hours to trade at $0.00000350 as of 11:24 p.m. EST on trading volume that dropped 12% to $5 million.
Mochi Price Currently Bearish
The MOCHI price remained in a prolonged consolidation phase throughout January, hovering around the $0.00001299 level. However, on January 25, the bulls seized control, igniting a parabolic rally that propelled the asset to a high of approximately $0.00006252.
MOCHI bulls could not sustain the rally, which made the price of Mochi plunge to the $0.00002843 support, according to GeckoTerminal data.
The price then formed a rounding bottom pattern, which was then invalidated, causing the asset to plunge through a falling channel pattern.
The current price is hovering right around the 50-day Simple Moving Average (SMA), which is at $0.00003651. MOCHI trading below this level shows the asset is currently undergoing correction. Meanwhile, the 200-day SMA, at $0.00002195, remains far below the current price, suggesting that the asset may still recover.
The Relative Strength Index (RSI) is at 45.40, indicating neutral to slightly bearish momentum.
MOCHI Undergoes A Healthy Correction
The falling channel suggests that MOCHI is in a healthy correction phase after its strong rally. If MOCHI fails to break above the 50-day SMA, it may continue consolidating, with support at $0.00003000 and stronger support near $0.00002500.
However, a confirmed breakout from the falling channel could push MOCHI towards $0.00004500, with the next target around $0.00006000 – $0.00006500.
Meanwhile, investors are rushing to buy the viral meme coin Catslap (SLAP), which ClayBro, a prominent crypto analyst with over 135K YouTube subscribers, says could surge 10X after launch.
Buy Catslap Before Its $1 Million Token Burn
Catslap is an Ethereum-based meme coin featuring an aggressive feline that likes to “slap” anything that gets in its way. Its Slapometer has gone into overdrive already, with more than 2.9 billion slaps delivered globally.
Me walking away after slappin every mfer in town 🐱 pic.twitter.com/wUE1wG08k6
— Catslap (@CatSlapToken) January 28, 2025
Its “Hot Token” status on Best Wallet, a fast-growing crypto wallet, connects it to over 100,000 users, boosting visibility and momentum.
Catslap’s staking feature also offers a stellar 30% annual return.
Its developer is also teasing a $1 million token burn in about 2 days, which will put upward pressure on the price by reducing supply.
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Catslap (SLAP) - New Cat Meme Coin On Ethereum
- Listed on MEXC
- Featured on Cointelegraph
- Trending on CoinGecko, DEXTools
- 10,000+ Holders
- Slap To Earn Utility
- Token Burns
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