MOODENG Price Skyrockets 60% After Coinbase Announcement
The price of MOODENG has increased by more than 60% in the past 24 hours after Coinbase added MOODENG to its listing roadmap. The significant move in price was accompanied by an increase in the Average Directional Index (ADX) from 14 to 21.6, indicating increasing trend strength.
The relative strength index of a coin (relative strength index) also surged sharply from 32 to nearly 80, indicating that market dynamics are rapidly changing. Investors are now keeping a close eye on whether MOODENG can sustain its current uptrend and potentially test price levels around $0.7.
MOODENG Uptrend Not That Strong Yet, But It’s Growing
MOODENG prices surge by more than 60% Coin Library announced the addition of the token to its listing roadmap.
This significant price move triggered a corresponding rise in the Average Directional Index (ADX), rising from 14 to 21.6 in just a few hours, indicating growing trend strength.
ADX ranges from 0 to 100, with key thresholds defining trend strength. Values below 20 indicate a weak trend, while readings between 20-25 indicate a developing trend.
MOODENG’s ADX of 21.6 signals the emergence of potentially strong directional movement, suggesting that recent price gains may continue as the market establishes a clearer trend following the Coinbase announcement.
MOODENG enters overbought zone
muden The relative strength index (RSI) surged from 32 to nearly 80 in just a few hours following the recent price rally.
RSI ranges from 0 to 100, with key thresholds at 30 and 70. Readings below 30 usually indicate an oversold market, while values above 70 indicate an overbought market.
The historical data is MOODENG price Showing that its RSI can remain above 80 for several days before a correction occurs.
This suggests that while the current RSI indicates potential overvaluation, prices may continue to rise or maintain current levels before experiencing a significant correction.
MOODENG Price Forecast: Can the surge continue?
muden The current uptrend suggests that the price has the potential to rise, with the potential to test levels around $0.7 if the momentum continues.
The RSI’s ability to remain above 80 may indicate strong buying pressure and continued market enthusiasm, especially in Coin Library Listing Announcement.
However, if the uptrend loses momentum and the Coinbase listing fails to sustain market excitement, MOODENG could experience a significant correction. same corner.
in this case, MOODENG price A pullback is likely to test support around $0.32, reflecting potential volatility and the uncertainty inherent in the cryptocurrency market.
Disclaimer
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