MongCoin Price Could Jump 25% If Surpasses This Interesting Leve
MongCoin crypto is currently edging higher forming an interesting ascending triangle pattern.
The MONG crypto currently trades at $0.0000000141, recording a swift Intraday loss of 1.87%.
The buyers are attempting to hold the price higher in order to regain control of the trend.
The MongCoin price stabilizes near the higher boundary of an ascending triangle pattern indicating the early signs of breakout. The buyers are continuously shifting their presence at the higher swing lows.
On the lower side, a positive trendline is acting as support and pushing the MONG price higher after every trace. Whereas, on the higher side, the sellers are trying to defend the previous supply zone and a psychological level of $0.000000015 level.
Looking precisely over the daily chart, it was observed that the buyers have made several retest of the supply zone making it even weaker. Whereas, the sellers seem to be giving up as the crypto is unable to form a new low after suffering rejection from the supply levels.
Recently, the crypto took a rebound from 20 and 50 Day and attempted to surpass the supply zone, however, the sellers again made a comeback and the price currently consolidates near the supply.
The buyers seem to be recovering in the short term as the buying is backed by a volume rise which adds the confirmation bias of a bullish breakout.
Also, the sellers are continuously losing as the price is not able to break lower after suffering from the supply zone. It indicates the losing interest of sellers to further lower the price.
However, the long term trend favors the selling side which might be a concern for the buyers. However, if the buyers come up with enough buying volume sellers may lose interest and try to cover their short positions which may indicate a reversal.
Currently, the most recent huddle for the buyers is 0.000000015 level which if conquered may unlock another 20 to 25% potential on the higher side. Short term traders and investors may target a higher supply level of 200 Day EMA and $0.000000019 level if breaks on the higher side.
The MONG crypto currently trades at $0.0000000141, recording a swift Intraday loss of 1.87%.
The buyers are attempting to hold the price higher in order to regain control of the trend.
The MongCoin price stabilizes near the higher boundary of an ascending triangle pattern indicating the early signs of breakout. The buyers are continuously shifting their presence at the higher swing lows.
On the lower side, a positive trendline is acting as support and pushing the MONG price higher after every trace. Whereas, on the higher side, the sellers are trying to defend the previous supply zone and a psychological level of $0.000000015 level.
Looking precisely over the daily chart, it was observed that the buyers have made several retest of the supply zone making it even weaker. Whereas, the sellers seem to be giving up as the crypto is unable to form a new low after suffering rejection from the supply levels.
Recently, the crypto took a rebound from 20 and 50 Day and attempted to surpass the supply zone, however, the sellers again made a comeback and the price currently consolidates near the supply.
The buyers seem to be recovering in the short term as the buying is backed by a volume rise which adds the confirmation bias of a bullish breakout.
Also, the sellers are continuously losing as the price is not able to break lower after suffering from the supply zone. It indicates the losing interest of sellers to further lower the price.
However, the long term trend favors the selling side which might be a concern for the buyers. However, if the buyers come up with enough buying volume sellers may lose interest and try to cover their short positions which may indicate a reversal.
Currently, the most recent huddle for the buyers is 0.000000015 level which if conquered may unlock another 20 to 25% potential on the higher side. Short term traders and investors may target a higher supply level of 200 Day EMA and $0.000000019 level if breaks on the higher side.
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