Quick Technical Analysis for the Currency on the 1-Hour Time Frame

The currency MOODENGUSDT is currently experiencing sideways movement after a sharp decline from 0.21573 to 0.17798. The price is now trading at 0.18354 with potential rebound signals.

🔹 Technical Indicators:

• The 7-period moving average has been broken upward.

• The 20-period moving average is forming resistance at 0.18445.

• RSI (14) at 36.9: shows exit from the oversold zone.

• Stochastic RSI is in an oversold condition with a potential bullish crossover.

• MACD shows the beginning of a weak bullish crossover.

🔹 Support and Resistance Levels:

• Support: 0.1800 and 0.1779

• Resistance: 0.1845 then 0.1920

🔹 Forecast:

If the resistance at 0.1845 is broken and maintained above, the price may target levels of 0.1900 then 0.1970. However, breaking the support at 0.1779 could bring the price back to the level of 0.172.

✅ Summary:

The currency is currently in an accumulation zone, and the technical rebound depends on surpassing 0.1845 with good support from momentum indicators, especially RSI and Stoch RSI

$MOODENG