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Moonpig has faced a steep 33.91% correction, pushing price action toward a critical inflection point at the local range low. With the current trading range spanning over 166%, volatility is expected to surge, making the next move a key signal for traders. After a sharp 33% pullback, Moonpig (Moonpig) is now trading at a crucial level near its local range low. This zone could act as a springboard for a potential liquidity grab and reversal setup, commonly referred to as a swing failure pattern. With a vast trading range and the current structure still ranging, traders are watching closely for signals of structural change. Key Technical Points Range Low Liquidity Zone: Price is hovering above the local range low, where a sweep of liquidity could lead to a bullish SFP reversal back into the range. Point of Control Resistance: The POC within the range has historically acted as resistance; breaking and holding above it could set up a grind toward the range high. Fibonacci Extension Target: If the range high is breached with momentum, the next target lies 390% higher based on Fibonacci extension projections. MoonPigUSDT (4H) Chart, Source: TradingView Moonpig’s 33% decline has brought it close to the bottom of its well-defined trading range. If the current local low is breached, it may result in a classic swing failure pattern, where price momentarily dips below support to grab liquidity before snapping back inside the range. This pattern is often used by experienced traders as a high-probability long setup. At present, the market is not showing a bullish structure. Instead, price action remains rotational, trading within a 166% wide range. Until there’s a structural shift, the base assumption is for continued range-bound behavior. Within this range, the point of control sits below the range high and has been a strong…

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Filed under: News - @ June 5, 2025 3:29 am