Mog Coin Price Prediction: MOG Leads Meme Coin Losers With 18% Plunge As This PEPE Upgrade Soars Towards $7 Million
Release: 2024/08/03 18:10 Reading: 727
Mog Coin Price Plunges 18% Amid Trading Volume Dip
As of 7 p.m. EST, the Mog Coin price has plummeted by 18% to $0.000001414, accompanied by an 8% decline in trading volume to $50 million. This sharp drop has made MOG the biggest loser among major meme coins by market capitalization, according to CoinMarketCap.
Mog Coin Faces Resistance Despite Bullish Trend
Despite a recent rally, the MOG price has faced resistance at $0.000002363 and is now consolidating within a bullish channel. However, bulls are striving to push the price higher.
As per GeckoTerminal, bulls are regrouping and establishing a support zone at $0.0000008109, coinciding with the channel's lower trendline. If this pattern persists, the price could rebound to the previous resistance level, potentially allowing bulls to recoup their losses.
Technical Analysis
- Moving Averages: The MOG price trades below the 50-day simple moving average (SMA) but remains above the 200-day SMA, providing support for the bulls.
- Relative Strength Index (RSI): The RSI indicates a bearish trend, falling below the 50 midline to 39. Continued downtrend could lead to an oversold condition.
- Moving Average Convergence Divergence (MACD): The MACD displays a downtrend, but the histogram bars are green and above the neutral line, suggesting bullish momentum.
Price Prediction
Bullish sentiment remains intact, with a potential rebound on the channel's lower trendline. The bulls may aim for a breakout above the resistance level, targeting $0.000002590 in the coming weeks.
Conversely, a continued downtrend could push the price below the lower boundary and the 200-day SMA, leading to a further decline towards $0.0000005373.
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