The post Can MONG Crypto Breakout Continue & Will It Rise? appeared on BitcoinEthereumNews.com.

The MongCoin crypto had exhibited a price rally around December 2023, as the price rose from $0.000000006000 to $0.000000038500 and plummeted after struggling to jump above. It is showing buyers’ rejection from the supply area and sellers became dominant.  Since the price did not increase above $0.000000038500, it caused the price to fall in a downward wedge and extend toward the demand zone. From the demand zone, the price took support, showed some spikes, and cut the dynamic resistance of EMA’s from below. What Is the Next Move for the MongCoin Crypto Price? Analyzing the price pattern depicted on the daily chart, MongCoin cryptocurrency has displayed indications of a potential breakout. The price demonstrated strong support signals at a key level of around $0.000000009000 on the chart, and the price action has built a bullish pattern known as a ‘falling wedge.’ The MONG token is almost geared for a phenomenal surge as it harnesses buyers to crack the resistance level and rocket towards higher target levels or retest the supply zone from the current support demand level. Source: MONG/USDT: MEXC.1.D. by TradingView Apart from that, the price structure in MongCoin assets displays bullishness and the potential to continue increasing the price above the major trend 20, and 50-day EMA bands; reluctant on the buyer’s increase, the price could shoot upwards and reach or reclaim levels above. Even though the technical indicator in MONG crypto assets is showing bullish characteristics, MACD shows a bullish crossover. MACD line is at -0.000000000087, the signal line is at -0.000000000604, and the histogram is at 0.00000000517. Likewise, the RSI is surging smoothly and taking support from the 14-SMA smoothened line, signifying that the MongCoin price is gaining momentum and can achieve new heights. RSI is currently at 54 and 14-SMA is at 46. In an…

---

Filed under: News - @ February 16, 2024 7:24 pm