thenewscrypto.com
- Mog Coin is trading at $0.0000008980 after a 39% surge.
- MOG’s daily trading volume has jumped by over 237%.
The crypto market cap has registered a brief spike of 2.44%. Notably, the meme market cap has reached $59.4 billion, after a 5.5% surge in the last 24 hours. All the major meme coins are charted in green. Among them, Mog Coin (MOG) has rallied over 39%.
With a market cap of $350 million, the meme coin is currently trading within the $0.0000008980 range and might kickstart a potential breakout. The asset’s daily trading volume has reached $75 million.
Mog Coin opened the day trading at around a low of $0.0000006393. The bullish command has pushed the asset to trade on the upside, hitting a peak of $0.0000009212, surpassing crucial resistance zones.
Will MOG Ride the Bullish Wave Higher?
The four-hour price chart of MOG reports a steady upside correction. The asset could likely jump to the $0.00000090 mark. If the ongoing positive momentum strengthens, further gains might trigger the asset to climb higher toward the range of $0.0000009437.
On the flip side, assuming the asset’s market sentiment shifts from bullish to bearish, the price might lose its recent gains, falling back to the former low at $0.0000008627. A consistent downtrend could depress MOG’s price action, slipping to $0.00000082.
While analysing the technical indicators of Mog Coin, it exhibits a potent bullish sentiment as the Moving Average Convergence Divergence (MACD) line crosses above the signal line. This crossover points out the emerging positive trend within the market.
Moreover, the Chaikin Money Flow (CMF) indicator stationed at 0.32 hints at a strong buying pressure and the capital is flowing into the asset. It is often considered a bullish signal. Meanwhile, MOG’s daily trading volume has increased by over 237%.
MOG’s current market sentiment is in the overbought zone as the daily relative strength index (RSI) is found at 77.72. This signals a potential pullback or correction. Besides, the A Bull Bear Power (BBP) value of 0.0000003252 suggests that the bulls exist but are weak.
Disclaimer: The opinion expressed in this article is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.