Hippo-themed Moo Deng consolidates — but a breakout could send it flying | Credit: Hameem Sarwar
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Key Takeaways
Despite muted price action, MOODENG broke out of a falling channel and formed a U-shaped recovery.
Bullish indicators include a MACD crossover and rising MFI, indicating increasing buying pressure.
Risk remains if bulls don’t follow through, in which case the memecoin could revisit sub-$0.14 levels.
While most memecoins rode the recent wave of euphoria, Moo Deng (MOODENG) lagged. MOODENG’s price has hovered around the same region in the past seven days.
This happened as several other cryptos in its category logged double-digit gains. But that may not last much longer for the hippo-themed token.
Rather than staying on the sidelines, momentum appears to be building, suggesting that it could soon join the rally and post meaningful upside of its own.
Here is why and what lies ahead for the memecoin.
Moo Deng Aims to Leave Sideways Movement
Based on the 4-hour chart, MOODENG’s price failed to notch a double-digit rally due to the Exponential Moving Average (EMA) position. At press time, the 20 EMA (blue) and 50 EMA (yellow) were positioned around the same level as the token.
To validate an uptrend, the cryptocurrency’s market has to rise notably above the EMAs. Since that is not yet the case, MOODENG’s price will likely keep trading sideways.
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Regarding the range it might keep moving in, CCN observed that the memecoin might keep holding above the support at $0.13 and $0.18. It could also target the resistance levels between $0.21 and $0.26.
At the same time, further analysis shows that MOODENG might not stay in the range for long.
The chart reveals that MOODENG is likely to break above this range-bound movement. On the daily chart, the memecoin has broken above the upper trendline of a falling channel.
After that move, MOODENG’s price formed a U-shaped recovery that could return it to $0.27 resistance. If this happens, it could give way to a breakout toward $0.31.
But that’s not all. Despite its recent consolidation, the Moving Average Convergence Divergence (MACD) has formed a bullish crossover. This crossover indicates positive momentum around the token, and if sustained, might help MOODENG from sliding under $0.14.
In addition, the Money Flow Index (MFI) has risen to $65.06. The MFI measures buying and selling pressure using the volume around a cryptocurrency.
If the MFI were below 50, it would have indicated selling pressure. However, since the MFI is above the signal line, MOODENG’s price might break the resistance at $0.22.
Once achieved, this could lay the groundwork for the meme coin to hit $0.27. Should bulls validate this run, MOODENG’s price might rally 85% from its current value and hit $0.34.
However, if bears enter the picture, the meme coin might slide below the $0.14 support, and MOODENG might decline below $0.10.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
