Mog Coin (MOG) Price Prediction: Analyzing The Key Levels

While the broader crypto market faced a sideways trend, Mog Coin (MOG) has continued to extend gains. This week, it reached the critical resistance

Cryptocurrency Mog Coin (MOG) continued to gain momentum as the broader crypto market remained in a sideways trend. This week, MOG price aimed for a breakout after reaching a critical resistance level.

A rounding bottom pattern was observed on the technical chart as the memecoin attempted to breach the horizontal neckline for a bullish breakout.

Meanwhile, MOG price remained above the key moving averages, indicating a bullish trend on the chart.

What Do Crypto Analysts Say On Mog Coin? A Summary

In a recent tweet, Montblanc shared that a panel of quants and mathematicians concluded that it's scientifically impossible for $MOG to go down and that it is spiritually ordained as the greatest meme coin ever.

However, a crypto analyst known as Dr Dinero shared his optimistic view on X, stating that MOG price is consolidating near the ATH region and appears promising on the technical chart.

According to Fib levels, MOG price appeared to be inching closer to the 61.8% level and the upper Bollinger band. A breakout above the ATH resistance level would lead to new higher levels ahead.

Mog Coin Price Analysis: Key Levels In Focus

On a daily time frame, Mogcoin price indicates a bullish bias as it trades above the key EMAs, anticipating a breakout in the short term.

At the time of writing, MOG coin was trading at $0.000002053, indicating a decline of over 2.30% over the past 24 hours. However, it has attained weekly gains of over 18%, showcasing a bullish trend. It had a market cap of $801.89 Million with a circulating supply of 390.57 trillion.

An increase in On-Balance Volume (OBV) usually signifies price demand as it measures demand and supply. However, with Mog coin, the high OBV reading suggested accumulation, indicating a potential for an accelerated uptrend. Also, the Relative Strength Index (RSI) line hovered around the 60 mark, indicating bullish momentum on the chart.

Furthermore, the Money Flow Index (MFI) surged to 62. Generally, values above the 50 mark indicate rising inflows in the market.

Social Metrics Pivots Bullish Optimism

Data from Messari highlighted the bullish trend of MOG prices buzzing on social media platforms. Since September 2024, the number of users on the X platform has increased massively.

In the past two months, the count of followers increased from 80k to 86k, indicating increased speculation.

Futures Market Data Outlook

In addition to the bullish trend, the futures market remained promising. The futures OI-weighted funding rate stayed positive at around 0.2166%, indicating a sustained demand for long positions.

However, the Open Interest (OI) rose 16.60% to $380.29k, indicating a short addition over the past 24 hours. This meant that bears were trying to secure the region and were willing to push the altcoin from the highs.

The immediate support zones for MOG crypto were $0.000002000 and $0.000001920. At the same time, the upside hurdles were $0.000002120 and $0.000002320.