- MOG is hovering at $0.0000016 after a 6% gain.
- Its daily trading volume is up by over 52%.
The crypto market cap has briefly plunged and pushed the assets to oscillate between gains and losses. Following suit, the meme coin market cap has dropped by over 3.2% to $87.4 billion in the last 24 hours. With the mixed signal across the tokens, Mog Coin (MOG) has surged by over 6.06%.
With the meme coin’s market cap reaching $626.73 million, MOG is trading within the $0.000001601 zone at the time of writing, as per CoinMarketCap data. In addition, the daily trading volume has soared by over 52.18%, touching $66.07 million.
In the morning hours, MOG traded at around a low level of $0.000001482. After the bullish shift, the price climbed and chose to trade on the upside, hitting a high of $0.000001753. The meme coin has broken through the vital resistance range between $0.000001487 and $0.000001748.
The Ali chart displays that the MOG Coin has formed and broken out of a classic cup and handle pattern, implying further upside. Besides, the projected target is around $0.0000058, which could be a potential 250% rally from current levels.
Will the MOG Rally Catch More Momentum?
Zooming in on the technical analysis of MOG, the Moving Average Convergence Divergence (MACD) line is seen briefly above the zero line while the signal line remains below. It indicates a weak bullish signal. Both lines should cross over the zero line for confirmation of an uptrend. Moreover, the Chaikin Money Flow (CMF) indicator found at 0.10 suggests moderate buying pressure in the market. The asset is being accumulated, and it could support a potential upward move in price.
Assuming the asset’s bullish pressure strengthens, the price could likely move up and test the resistance at the $0.000001607 mark. Further gains might trigger MOG’s golden cross to take place, and the bulls may send the price above $0.000001613.
If the bullish outlook turns to bearish, the asset might lose its recent gains and retrace to the previous support level at $0.000001594. A continued bearish pressure could push the death cross to unfold, driving the MOG price below $0.000001588.
MOG’s daily Relative Strength Index (RSI) is positioned at 50.04, hinting at its neutral condition, neither overbought nor oversold, where the market could swing both ways. Furthermore, the Bull Bear Power (BBP) value of 0.0000000361 signals a weak bullish strength. Also, it is subject to consolidation or a potential reversal.
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