Key Takeaways
- MOODENG’s price has increased by 600% in the past six days.
- The price broke out from a long-term resistance trend line.
- Can MOODENG sustain its increase and move to new highs?
MOODENG was one of the best-performing memecoins in the crypto market in the latter half of 2024. However, the tide turned in 2025, and the price has fallen significantly.
After a 97% decline, MOODENG regained its footing and rallied over 600% last week. The increase coincided with Binance Alpha announcing a MOODENG listing on May 11 , fueling the upward movement.
With that in mind, let’s analyze the MOODENG price action and see what lies ahead.
MOODENG’s Rapid Increase
The daily time frame MOODENG analysis shows that the price fell 97% since its all-time high of $0.70 in November 2024.
MOODENG’s downward movement culminated with a low of $0.02 on April 7, close to its launch price.
The rally since then has been astounding. MOODENG has increased by 1,200%, half of that occurring last week.
MOODENG broke out from its descending resistance trend line and has nearly reached the $0.32 horizontal resistance area, the final one before the all-time high.
So, a sustained increase could take MOODENG to a new all-time high.
Technical indicators suggest the increase will continue. The Relative Strength Index (RSI) and Moving Average Convergence/Divergence (MACD) are increasing.
While they have not generated bearish divergences, the RSI is close to its all-time high, suggesting a short-term retracement could happen.
Will the Upward Movement Continue?
MOODENG’s wave count gives a highly bullish prediction. According to the count, the price is in a 1-2/1-2 wave formation and has started an extended wave three (green).
The sub-wave count is black, indicating that a local top could occur soon, but another rally is likely.
If the count is accurate, MOODENG’s price will break out from the $0.32 horizontal resistance area during wave three.
Then, it will validate it as support in wave four before moving to a new all-time high.
While the MOODENG price is not following a clear pattern, a potential parabolic support trend line can act as a spring for wave four, triggering the final increase.
New MOODENG All-Time High
The MOODENG price showed impressive strength by breaking out from a descending resistance trend line and rallying 600%.
MOODENG’s wave count gives a bullish analysis, suggesting the price will reach a new all-time high.
While a short-term retracement could occur, the long-term trend remains bullish.
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.
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