With a fresh recovery run gaining momentum for Mog Coin, will the uptrend scale beyond 100%?
With the Bitcoin price sustaining dominance above the $72,000 mark and an intra-week gain of 7.27%, meme coins are making a bullish comeback. As the meme coins market cap sustains above $63 billion, the MOG coin shows a promising trend.Â
With four consecutive bullish days, the MOG Coin is inching closer to a significant breakout. Will this breakout rally lead to a new all-time high with a more than 100% price jump? Let’s find out.Â
Cup and Handle Breakout For MOG
In the daily chart, the MOG coin shows a cup-and-handle pattern with a neckline at $0.000002355. In the last 7 days, the meme coin has increased by nearly 32% from the 7-day low of $0.000001599.Â
Currently, the MOG coin is trading at $0.00000210459 with an intraday gain of 4.39%. As the meme coin has reclaimed a psychological mark of $0.0000020, the four consecutive bullish candles tease a completion of the cup-and-handle pattern. Hence, the chances of MOG coin testing the neckline have significantly increased.Â
As the bearish histograms decline with increasing bullish influence, the MACD and Signal lines prepare for a bullish crossover. Meanwhile, the crucial 20, 50, 100, and 200-day EMA maintains bullish alignment. Hence, the momentum indicator and dynamic lines give a buy signal for MOG.Â
Will MOG Reach $0.0000050?
Based on the Fibonacci levels, the neckline coincides with the 100% level at $0.000002355. A bullish breakout of the bullish pattern will likely reach the 1.618 Fibonacci level at $0.0000047623, accounting for a 126% rise. This increases the chances of the bull run reaching the $0.0000050 psychological mark in the ongoing bull trend.Â
On the flip side, the downside risk for the meme coin remains at the $0.000001845 level.Â
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.