Is MUBARAK Gearing Up for a Big Move? Key Levels to Watch
$MUBARAK is currently navigating a key zone after a sharp rally followed by a healthy correction. The pair saw strong bullish momentum early on, pushing prices up to a peak around $0.0714. Since then, the market has entered a consolidation phase, now holding around $0.0623.
On the short-term, the price is testing support near $0.0615, with low volume suggesting indecision. A breakout above $0.0650 with strong volume could trigger a move toward recent highs. However, failure to hold support may open the door to a retest of $0.0580.
From a long-term perspective, the structure still leans bullish. Higher lows, steady volume on dips, and signs of accumulation around the $0.0600–$0.0630 range indicate potential for a larger move. A clear breakout above $0.0720 could set the stage for a rally toward $0.0800 or higher.
Key Levels to Watch:
• Support: $0.0615 / $0.0580
• Resistance: $0.0650 / $0.0714 / $0.0800
• Volume Confirmation: Crucial for any breakout or breakdown
Traders should stay alert for volume spikes and candle closes above resistance to confirm bullish momentum. For now, patience and close monitoring of the current consolidation zone is essential.