MOG asset have been showing bearish signs

The Mog Coin price chart showed an intense battle between bulls and bears. The price reached at an all-time high at $0.000001650, where the candle gave closing at $0.000001500 by May 27th, 2024, after breaking out from a falling wedge pattern.

At press time, the price has traded at $0.00000140 with an intraday decline of -7.50%, with a declined market capitalization of $557.61 Million by -7.56%. The trading volume of the last 24-hours has also declined by -10.86%, which stands near $71.205 Million.

Does Mog Coin Breakout About To Fade?

The recent price structure has shown remarkable gains, in a few past sessions. This week the price performed with almost 80% gains, and this month by almost 115% of gains, over the daily chart.

The EMA's are boldly positive as the price has been above the 50-day, and 200-day EMA's, due to a breakout it had in past sessions. However, the MOG crypto displayed a sign of weakness as the price plunged from a key supply level of around $0.000001500 on the chart.

The MOG crypto appears close to a huge drop, if MOG fails to sustain above the $0.000001300 support level, the wind would turn the game in Bear's favor, and the bears could initiate their control.

Similarly, Oscillators in the MOG asset have been showing bearish signs, as the RSI flashed at 69.21, which has been declining from the overbought territory of 70, thus, indicating that the MOG asset could go lower.

Therefore, if the MOG crypto price breakout fades and it fails to stay above the nearest crucial support level, it could decline further and reach depths.

However, if the demand for the asset remains high, then the MOG asset price could continue rallying upwards from the current level. Then the next target for the price could be to reach $0.000002000.

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