Moondeng has surged over 200% in recent days, bouncing cleanly off a critical support zone. Now, with momentum building and a massive resistance level in sight, traders are watching closely for what comes next.
Moondeng’s (MOODENG) explosive rise began after it found solid footing at $0.03, aligning with key technical indicators. As momentum increases, the next test lies at the $0.20 resistance, where bulls will need significant strength to break through.
Moondeng has caught the attention of traders and speculators alike after a remarkable 200% price rally. The move began from a clean bounce at $0.03, a level supported by strong technical confluence, including a long-term point of control and the value area low.
Now, with the price heading toward a technically dense resistance zone, the market is preparing for potential consolidation or a breakout that could carry prices even higher.
Key technical points
- Strong Support at $0.03: Confluence of value area low and long-term POC created a strong base for the bullish reversal.
- Next Resistance at $0.20: Aligned with the 0.618 Fibonacci level, bearish order block, and VWAP from all-time high.
- Momentum Still Rising: Volume profile indicates a climatic breakout, but a healthy consolidation may be imminent.
Technical analysis and market behavior
The initial bounce from $0.03 was no coincidence, this level coincided with the point of control pulled from Moondeng’s all-time high, as well as the value area low. These overlapping indicators created a high-probability zone for demand to step in, and it did, leading to the rapid 200% spike.
Currently, Moondeng trades in a zone of heightened attention. The $0.20 region represents a major resistance, combining several technical tools: the 0.618 Fibonacci retracement from the all-time high, a key bearish order block, and VWAP resistance from the same high. This cluster of resistance is not only a technical challenge for bulls but also a make-or-break area that could dictate the medium-term trend.
Despite the strength of the move, traders should watch for potential consolidation. The volume profile shows a climatic spike, a signal that often precedes sideways action. A higher low forming during this phase would be constructive, preserving the bullish market structure and setting the stage for a breakout above $0.20.
What to expect in the coming price action
If Moondeng manages to hold its recent gains and establish a higher low, the bullish trend could continue toward the $0.20 resistance, and beyond. A successful breakout from this level would likely open the door to $0.31, marking the next major technical target. Traders should monitor consolidation zones and volume shifts closely, as these will guide the next significant move.
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