MOODENG rallies 112%, but is buying momentum fading? – If so, what next

• MOODENG was up about 112% in a day whereas quantity spiked by 387%.
• As the worth of Moodeng surged, a seasoned whale moved restrict promote orders to $0.565 and $1.11 ranges.

A two-day Bollinger Band (BB) squeeze pushed Moo Deng [MOODENG] to a hike of greater than 112% at $0.26249 value stage, at press time.

Traditionally, such squeezes usually precede sturdy rallies.

As soon as the worth strongly outgrew the bottom at $0.21678 and got here near approaching the higher BB at $0.29834, the market started a interval of consolidation.

The worth spike came about coinciding with an explosion within the buying and selling quantity – up 387%, which advised that there was the curiosity on the facet of patrons.

There was an apparent bullish crossover within the MACD, however the histogram’s modest detrimental at -0.00020 indicated waning shopping for momentum.

Supply: TradingView

The MACD line at 0.02985 moved decrease beneath the sign line at 0.03006, signaling potential short-term deceleration.

If $0.26249 holds, MOODENG might retrace to $0.29834. A breakout to $0.35 can also be attainable. If shopping for energy weakens, the memecoin could drop to $0.21678 and even decrease to $0.169.

The $0.11232 help stage stays sturdy and intact regardless of ongoing consolidation. For an uptrend to proceed, MACD should regain bullish momentum whereas value stays above the center band.

On the time of writing, MOODENG was dropping momentum, although latest volatility suggests sharp value strikes are nonetheless attainable.

Will the promote restrict orders of MOODENG whale be activated?

In the meantime, a seasoned whale positioned giant restrict promote orders on the MOODENG platform.

The orders included 2 million tokens at $0.565, totaling $543K, and 1.1 million tokens at $1.11, amounting to $298K. These actions had been strategically timed throughout a value ascent, more likely to safe income with out disrupting market move.

Regardless of the surge reflecting market power, the worth remained nicely beneath the whale’s promoting limits.

Supply: EyeOnChain

The results of the whale’s strikes was determined solely by MOODENG market curiosity and fixed demand. A spike in buying conduct could ultimately pull the whale’s promote targets.

However, ought to the market spook out, or merchants get into the profit-track, the whale may very well find yourself staying in his place – neutralized in potential positive factors.

This MOODENG whale had avenged his actions. Finally, this crowd dynamic available in the market alone didn’t decide the destiny of those promote targets.