MOODENG Price Explodes After Coinbase Listing Roadmap Announcement

MOODENG price jumped more than 60% in the last 24 hours after Coinbase added the coin to its listing roadmap. The significant price movement was accompanied by a rise in the Average Directional Index (ADX) from 14 to 21.6, indicating growing trend strength.

The coin’s Relative Strength Index (RSI) also surged dramatically from 32 to almost 80, suggesting a rapid market momentum shift. Investors are now closely watching whether MOODENG can maintain its current uptrend and potentially test price levels around $0.7.

MOODENG Uptrend Isn’t That Strong Yet, But It’s Growing

MOODENG price experienced a remarkable surge of over 60% after Coinbase announced it added the coin to its listing roadmap.

This significant price movement triggered a corresponding increase in its Average Directional Index (ADX), which rose from 14 to 21.6 in just a few hours, indicating growing trend strength.

MOODENG ADX. Source: TradingView

The ADX ranges from 0 to 100, with key thresholds defining trend intensity. Values below 20 suggest a weak trend, while readings between 20-25 indicate a developing trend.

MOODENG’s ADX of 21.6 signals the emergence of a potentially strong directional movement, suggesting the recent price surge might continue as the market establishes a more definitive trend following the Coinbase announcement.

MOODENG Entered The Overbought Zone

MOODENG Relative Strength Index (RSI) surged from 32 to almost 80 in just a few hours after the recent price jump.

The RSI ranges from 0 to 100, with key thresholds at 30 and 70. Readings below 30 typically indicate an oversold market, while values above 70 suggest an overbought condition.

MOODENG RSI. Source: TradingView.

Historical data for MOODENG price shows that its RSI can remain elevated above 80 for several days before a correction occurs.

This suggests that while the current RSI indicates potential overvaluation, the price could continue to rise or maintain its current levels before experiencing a significant pullback.

MOODENG Price Prediction: Can It Keep Surging?

MOODENG current uptrend suggests the potential for price expansion, with the possibility of testing levels around $0.7 if the momentum continues.

The ability to sustain an RSI above 80 could indicate strong buying pressure and continued market enthusiasm, particularly with the Coinbase listing announcement.

MOODENG Price Analysis. Source: TradingView

However, if the uptrend loses momentum and the Coinbase listing fails to maintain market excitement, MOODENG could experience a significant pullback for the meme coin.

In this scenario, MOODENG price might retreat to test support levels around $0.32, reflecting the potential volatility and uncertainty inherent in cryptocurrency markets.

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