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MOODENG price jumped more than 60% in the last 24 hours after Coinbase added the coin to its listing roadmap. The significant price movement was accompanied by a rise in the Average Directional Index (ADX) from 14 to 21.6, indicating growing trend strength.
The coin’s Relative Strength Index (RSI) also surged dramatically from 32 to almost 80, suggesting a rapid market momentum shift. Investors are now closely watching whether MOODENG can maintain its current uptrend and potentially test price levels around $0.7.
MOODENG Uptrend Isn’t That Strong Yet, But It’s Growing
MOODENG price experienced a remarkable surge of over 60% after Coinbase announced it added the coin to its listing roadmap.
This significant price movement triggered a corresponding increase in its Average Directional Index (ADX), which rose from 14 to 21.6 in just a few hours, indicating growing trend strength.
The ADX ranges from 0 to 100, with key thresholds defining trend intensity. Values below 20 suggest a weak trend, while readings between 20-25 indicate a developing trend.
MOODENG’s ADX of 21.6 signals the emergence of a potentially strong directional movement, suggesting the recent price surge might continue as the market establishes a more definitive trend following the Coinbase announcement.
MOODENG Entered The Overbought Zone
MOODENG Relative Strength Index (RSI) surged from 32 to almost 80 in just a few hours after the recent price jump.
The RSI ranges from 0 to 100, with key thresholds at 30 and 70. Readings below 30 typically indicate an oversold market, while values above 70 suggest an overbought condition.
Historical data for MOODENG price shows that its RSI can remain elevated above 80 for several days before a correction occurs.
This suggests that while the current RSI indicates potential overvaluation, the price could continue to rise or maintain its current levels before experiencing a significant pullback.
MOODENG Price Prediction: Can It Keep Surging?
MOODENG current uptrend suggests the potential for price expansion, with the possibility of testing levels around $0.7 if the momentum continues.
The ability to sustain an RSI above 80 could indicate strong buying pressure and continued market enthusiasm, particularly with the Coinbase listing announcement.
However, if the uptrend loses momentum and the Coinbase listing fails to maintain market excitement, MOODENG could experience a significant pullback for the meme coin.
In this scenario, MOODENG price might retreat to test support levels around $0.32, reflecting the potential volatility and uncertainty inherent in cryptocurrency markets.