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With a fresh recovery run gaining momentum for Mog Coin, will the uptrend scale beyond 100%?
With the Bitcoin price sustaining dominance above the $72,000 mark and an intra-week gain of 7.27%, meme coins are making a bullish comeback. As the meme coins market cap sustains above $63 billion, the MOG coin shows a promising trend.
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 with a more than 100% price jump? Let’s find out.
Cup and Handle Breakout For MOG
In the daily chart, the MOG coin shows a cup-and-handle pattern with a neckline at $0.000002355. In the last 7 days, the meme coin has increased by nearly 32% from the 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 reclaimed a psychological mark of $0.0000020, the four consecutive bullish candles tease a completion of the cup-and-handle pattern. Hence, the chances of MOG coin testing the neckline have significantly increased.
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. Hence, the momentum indicator and dynamic lines give a buy signal for MOG.
Will MOG Reach $0.0000050?
Based on the Fibonacci levels, the neckline coincides with the 100% level at $0.000002355. A bullish breakout of the bullish pattern will likely reach the 1.618 Fibonacci level at $0.0000047623, accounting for a 126% rise. This increases the chances of the bull run reaching the $0.0000050 psychological mark in the ongoing bull trend.
On the flip side, the downside risk for the meme coin remains at the $0.000001845 level.