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The Mambo price surged 19% in the last 24 hours, trading at $0.000005393 as of 1:08 a.m. EST, with trading volume increasing 213% to $3.8 million.
Mambo Price Aims For A Sustained Bullish Trend
The MAMBO price is currently exhibiting a bullish trend, as demonstrated by the formation of a rising channel.
Mambo price action has been consistently respecting the channel boundaries, making higher highs and higher lows, which is a classic sign of bullish market structure.
The most recent candle shows a rejection at the upper resistance of the channel, suggesting short-term selling pressure or profit-taking after a recent upward surge.
Additionally, multiple bounce zones can be observed along the lower trendline, confirming that buyers are stepping in at support levels.
Currently, the price of Mambo is hovering slightly above the 0.236 Fib level ($0.000005038), indicating that bulls are attempting to sustain upward momentum after a brief retracement, as GeckoTerminal data shows.
The 50 Simple Moving Average (SMA) on the 4-hour chart is currently at $0.000003596 and is trending upwards, positioned well below MAMBO. This provides dynamic support and reinforces the bullish sentiment.
Meanwhile, the Relative Strength Index (RSI) is currently at 61.82, which places it just above the neutral 50 mark but below the overbought threshold of 70. This shows that the price still has room to surge.
Moreover, the Moving Average Convergence Divergence (MACD) line (blue) is slightly above the signal line (orange), and both are trending upward. The histogram also shows a positive value, which reinforces bullish momentum.
MAMBO Price Prediction
According to the MAMBO/USD chart analysis, the Mambo price is likely to continue its upward trajectory as long as it remains within the boundaries of the rising channel pattern.
A successful retest and hold of the 0.236 Fib level ($0.000005038) could set the stage for another push toward the channel top near $0.000006584, which also aligns with a major resistance zone.
If bullish momentum continues, an extended target of around $0.000007500 could be reached.
Conversely, a breakdown below the lower trendline of the channel and the 0.382 Fib level ($0.000004082) could signal a potential shift in momentum, with further support lying at the 0.5 level ($0.000003309) and the 50 SMA ($0.000003596).
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