🌎 MOODENG Surges 15% as Analysts Predict 85% Rally

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MOODENG is gaining significant traction as bullish momentum builds, with analysts predicting a potential 85% rally backed by strong technical indicators and increased whale accumulation.

MOODENG Price Performance and Market Activity

As of May 19, MOODENG, an Ethereum-based token, has surged approximately 15.5% and is trading around $0.000050. This marks a remarkable recovery of nearly 180% from its lowest point earlier this year, bringing its market capitalization to approximately $11.39 billion.

The price jump is supported by robust trading activity. Daily trading volume increased by 130% compared to the previous day, surpassing $12 million. This surge in activity signals renewed market interest and growing investor confidence.

Technical Analysis: Indicators Point to Bullish Momentum

On the 4-hour chart, MOODENG has shown a strong recovery since reaching its lowest price of $0.000018 in April. It is now trading above both its short-term and long-term moving averages, a classic indicator that buyers are gaining control of the market.

Additionally, MOODENG recently broke out of a falling wedge pattern, a common bullish setup. A golden cross has also formed, with the 20-day EMA crossing above the 50-day EMA. Historically, such formations have preceded significant rallies. For instance, the last golden cross led to a 140% surge from the breakout point.

Momentum Indicators Support Further Growth

Momentum indicators are also signaling potential upside. The MACD lines are trending upwards, and the RSI currently stands at 56, suggesting that MOODENG has room to climb before entering overbought territory. This indicates a strong bullish setup that could drive prices higher in the coming days.

Price Target and Resistance Levels

Based on technical analysis, MOODENG could rally to approximately $0.000093, which represents an 85% increase from its current price. This level also aligns with a major resistance zone that the token last tested in February. Breaking through this resistance could open the door for further gains.

On-Chain Data: Whale Accumulation and Growing Activity

On-chain metrics further support the positive outlook for MOODENG. Daily active addresses have been increasing, indicating higher network usage and greater retail participation. This rise in activity suggests growing interest among retail investors.

Moreover, whales are also entering the market. Data shows a noticeable uptick in addresses holding between 10,000 and 100 million MOODENG tokens. This accumulation by large holders often precedes significant price movements, as it reflects growing confidence among major investors.

Retail Interest and Market Sentiment

The increase in whale activity and trading volume coincides with MOODENG trending on search engines, highlighting heightened retail interest. This surge in curiosity could further fuel market demand as more investors explore the cryptocurrency.

At the time of writing, MOODENG is trading at $0.000050 per coin, with market watchers closely monitoring its next moves.