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With four consecutive bullish days, the MOG Coin is inching closer to a significant breakout. Will this breakout rally lead to a new all-time high
As the Bitcoin price continues to dominate the market with a 7.27% gain in the last seven days, meme coins are making a strong comeback. With a total market cap of over $63 billion, MOG coin is showing a promising trend on the price chart.
After four consecutive bullish days, the MOG coin is inching closer to a significant breakout. Could this breakout rally lead to a new all-time high with a more than 100% price jump? Let’s find out.
Cup and Handle Breakout For MOG
On the daily chart, the MOG coin showcases a cup-and-handle pattern that has a neckline at $0.000002355. In the last 7 days, the meme coin has gained nearly 32% from a 7-day low of $0.000001599.
Currently, the MOG coin is trading at $0.00000210459 with an intraday gain of 4.39%. As the meme coin has recovered a psychological mark of $0.0000020, the four consecutive bullish candles indicate a completion of the cup-and-handle pattern. Thus, the chances of MOG coin testing the neckline have increased significantly.
As the bearish histograms decline with increasing bullish influence, the MACD and Signal lines prepare for a bullish crossover. Meanwhile, the crucial 20, 50, 100, and 200-day EMA maintains bullish alignment. Thus, the momentum indicator and dynamic lines give a buy signal for MOG.
Will MOG Reach $0.0000050?
According to the Fibonacci levels, the neckline coincides with the 100% level at $0.000002355. A bullish breakout of the bullish pattern will most likely reach the 1.618 Fibonacci level at $0.0000047623, indicating a 126% rise. This puts the chances of the bull run reaching the $0.0000050 psychological mark high in the ongoing bull trend.
On the flip side, the downside risk for the meme coin remains at the $0.000001845 level.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
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