$MOODENG attempts to break through direct resistance, focusing on key levels and high risk
Recent price trends (1-day chart):
The current K-line shows that the price is around 0.27803 USDT, having rebounded significantly from a low point, but overall still remains in the area after a substantial drop from previous highs.
Funding data review (exchange positions):
Previous funding data shows that MOODENG has seen a massive net inflow in long positions (24 hours to 7 days) on exchanges, indicating continued accumulation of long-term funds.
Technical analysis and key resistance/support:
The most immediate key resistance (R-Day): The primary and direct resistance level faced by the current price is 0.29974 USDT (as indicated by the red line on the chart). Unless this level is broken and held, the upward space is limited.
Key support (S-Day): The chart clearly indicates 0.21594 USDT and 0.13815 USDT.
Comprehensive analysis and risk considerations:
After experiencing a significant pullback, the price of MOODENG is currently attempting to rebound. Accumulation of long-term funds may provide some support for the rebound. However, the primary task at hand is whether it can effectively break through the direct resistance of 0.29974 USDT. If this level cannot be broken, there may be insufficient upward momentum, potentially facing the risk of another pullback.
Risk warning: MOODENG is highly volatile with significant risks. Caution is necessary before breaking through 0.29974 USDT. Operations should be extremely cautious, with strict stop-loss measures in place, and avoid blindly chasing highs, ensuring proper risk management.
