39% Jump: Will Mog Coin (MOG) Break Barriers or Burn Out?

• 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.

*MOG chart (Source: TradingView)*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.

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