MOODENG worth jumped greater than 60% within the final 24 hours after Coinbase added the coin to its itemizing roadmap. The numerous worth motion was accompanied by an increase within the Common Directional Index (ADX) from 14 to 21.6, indicating rising pattern power.
The coin’s Relative Energy Index (RSI) additionally surged dramatically from 32 to virtually 80, suggesting a speedy market momentum shift. Buyers are actually intently watching whether or not MOODENG can keep its present uptrend and doubtlessly check worth ranges round $0.7.
MOODENG Uptrend Isn’t That Robust But, However It’s Rising
MOODENG worth skilled a outstanding surge of over 60% after Coinbase introduced it added the coin to its itemizing roadmap.
This vital worth motion triggered a corresponding enhance in its Common Directional Index (ADX), which rose from 14 to 21.6 in just some hours, indicating rising pattern power.
The ADX ranges from 0 to 100, with key thresholds defining pattern depth. Values beneath 20 recommend a weak pattern, whereas readings between 20-25 point out a growing pattern.
MOODENG’s ADX of 21.6 alerts the emergence of a doubtlessly sturdy directional motion, suggesting the latest worth surge would possibly proceed because the market establishes a extra definitive pattern following the Coinbase announcement.
MOODENG Entered The Overbought Zone
MOODENG Relative Energy Index (RSI) surged from 32 to virtually 80 in just some hours after the latest worth bounce.
The RSI ranges from 0 to 100, with key thresholds at 30 and 70. Readings beneath 30 usually point out an oversold market, whereas values above 70 recommend an overbought situation.
Historic knowledge for MOODENG worth reveals that its RSI can stay elevated above 80 for a number of days earlier than a correction happens.
This implies that whereas the present RSI signifies potential overvaluation, the value may proceed to rise or keep its present ranges earlier than experiencing a big pullback.
MOODENG Value Prediction: Can It Maintain Surging?
MOODENG present uptrend suggests the potential for worth enlargement, with the potential of testing ranges round $0.7 if the momentum continues.
The power to maintain an RSI above 80 may point out sturdy shopping for stress and continued market enthusiasm, notably with the Coinbase itemizing announcement.
Nevertheless, if the uptrend loses momentum and the Coinbase itemizing fails to take care of market pleasure, MOODENG may expertise a big pullback for the meme coin.
On this situation, MOODENG worth would possibly retreat to check assist ranges round $0.32, reflecting the potential volatility and uncertainty inherent in cryptocurrency markets.
Disclaimer
In keeping with the Belief Mission tips, this worth evaluation article is for informational functions solely and shouldn’t be thought-about monetary or funding recommendation. BeInCrypto is dedicated to correct, unbiased reporting, however market circumstances are topic to alter with out discover. At all times conduct your personal analysis and seek the advice of with knowledgeable earlier than making any monetary selections. Please notice that our Phrases and Situations, Privateness Coverage, and Disclaimers have been up to date.