Following a two-week drop from a key resistance level, Mog located support and resurged with a new bullish pattern. It will likely break to a new high following a notable surge in the last 24 hours.
The past two months saw MOG through an impressive recovery from a key low after witnessing a deep correction. Unfortunately, it paused positive actions and fell after marking a key resistance at $0.0000024.
After two weeks of drops, it established support above the $0.0000016 level and halted drops last week. Trading was very boring throughout yesterday, being the first day of the week, but it later became interesting today as volatility enhanced. This could lead to a buy if demand rises.
Meanwhile, the latest bounce looks more like a bullish (double-bottom) pattern on the lower timeframe. As seen on the daily chart, the bulls are trying to push back but their commitment seems low at the moment.
However, if they show strong commitment in the next few days, the price could rally to the previous key resistance before breaking higher to validate the mentioned bullish pattern.
Considering the latest bullish interception, there’s no room for the bears right now. But if they manage to find their way back in, they must retake the recent low to gain control back. For now, the bulls are taking charge.
MOG Key Level To Watch
On the way up, it may encounter minor resistance at $0.0000022 before reclaiming the key $0.0000024 resistance. Breaking it could skyrocket the price to $0.000003 and $0.000004 level – the potential new highs.
Dropping off the holding $0.0000016 support could plunge the price to
$0.00000125. Right below this price level lies the key $0.000001.
Key Resistance Levels: $0.0000024, $0.000003, $0.000004
Key Support Levels: $0.0000016, $0.00000125, $0.000001
- Spot Price: $0.00000189
- Trend: Bullish
- Volatility: High
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!
Image Source: peshkov/123RF // Image Effects by Colorcinch