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The Moo Deng price soared 28% in the last 24 hours to trade at $0.2449 as of 00:23 a.m. EST on trading volume that jumped 34% to $209 million.
Moo Deng Price Aims For A Bullish Rally
The Moo Deng price has moved sharply upwards from mid-September to late September, but recently it has been consolidating within the $0.20 and $0.35 range, according to data from GeckoTerminal.
The price appears to have established a resistance zone around $0.30-$0.32 (the top horizontal white line), which has been tested multiple times without a breakout. There is a clear support zone around $0.19-$0.20 (marked by the yellow box). The price has bounced off this zone several times, showing a strong support level.
MOODENG price now trades above the 50-day Simple Moving Average (SMA), currently serving as dynamic support, closely aligned with the horizontal support zone. Price seems to respect this moving average, which suggests that the short-term trend is still intact as long as the price remains above this level.
The Relative Strength Index (RSI) is at 55, indicating neutral momentum. The RSI isn’t showing any overbought or oversold conditions, but it is recovering from a recent dip (below 40), which signals that the downward pressure from the sell-off might be subsiding.
Moo Deng Price Prediction
According to the MOODENG/USD chart analysis on the 4-hour timeframe, the asset is currently on a bullish trend reversal from the lower boundary of the consolidation phase. If the bulls still maintain the trend, MOODENG could soar even higher as the bulls target the $0.35 resistance.
However, if the bulls cross the $0.185 support, the price of Moo Deng could plunge back to the $0.15 next support zone.
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