MOODENG Price Analysis and Prediction, This is the Target Price!

Bittime - The MOODENG crypto price continues to attract market attention after surging sharply by 270% at the end of last October. Starting from a rapid increase that brought the price from $0.074 (Rp. 1,161) to $0.25 (Rp. 3,925), MOODENG is now experiencing a movement pattern that forms a symmetrical triangle. 

Many are wondering, is this a sign of further increases or will there be another correction? This article will present the latest price analysis and future price predictions for MOODENG.

MOODENG Price Analysis

Since entering a bullish phase on September 20 with an initial price of $0.014 (Rp. 220), MOODENG has soared to reach an all-time high of $0.35 (Rp. 5,495) on September 28. 

However, this spike was soon followed by a sharp correction of 71%, which brought the price down to $0.10 (Rp. 1,570) on October 7. This correction formed a descending triangle pattern which ultimately brought the price back up to around $0.17 (Rp. 2,669) on October 8.

This cycle of price movements continued with another decline to $0.061 (Rp. 957) on October 23. However, the price of this meme coin recovered to $0.25 (Rp. 3,925) on October 25. 

After reaching this price, MOODENG briefly reached the resistance point at $0.27 (Rp. 4,239), but experienced a minor decline of 30% to $0.18 (Rp. 2,826), before returning to the level of $0.24 (Rp. 3,768) in October 30.

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MOODENG Price Prediction

Source: CCN

Currently, MOODENG is at an important support point. Based on the symmetrical triangle pattern formed, there are two major possibilities for the direction of the next price movement. 

If the price manages to break upwards, this will strengthen the bullish projection with an increase target of up to $0.30 (Rp. 4,710) or even reaching a new high. This will confirm the positive outlook among investors and open up profit opportunities for MOODENG holders.

However, technical analysis also suggests the possibility of further correction. The price movement pattern shows two waves of decline from the recently reached high price. 

This indicates a possible correction in the ABC pattern, which if continued could bring the price down to the target of $0.17 (Rp. 2,669). Furthermore, if the downward momentum becomes stronger, the Fibonacci level 1,618 estimates that the price may touch the $0.11 point (Rp. 1,727).

MOODENG Price Target

Based on technical analysis and price movement patterns, the short-term price target for MOODENG is currently in the range of $0.30 (Rp. 4,710) if the bullish pattern continues. This is an optimistic target that will give new impetus to the market. 

On the other hand, if a correction occurs, the downside price target is in the range of $0.17 (Rp. 2,669), with the possibility of a further decline to $0.11 (Rp. 1,727) in the worst case scenario.

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By looking at the existing movement patterns and buying and selling pressure, investors are advised to continue to monitor the support and resistance levels that are forming. For those investing for the long term, it is important to consider the risks that may occur in these dynamic crypto price movements.

MOODENG provides great potential for investors who are ready to face high volatility in the crypto market.

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