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Crypto Express

07/11 15:38

Gauging the MOODENG bulls’ chances

Bitcoin [BTC] has made a new all-time high, pushing past the $113k mark.

The altcoin market has done well since the beginning of July, adding a cumulative $1.43 trillion in market cap from the lows of the 1st of July.

The memecoin market was also trending higher, the collective gaining just over $11 billion in market cap.
The Pump.fun initial coin offering scheduled for this weekend also contributed to bullish conditions in the memecoin market.

The price action of MOODENG also showed bulls have reason to be hopeful. The base from where a rally began in November 2024 was highlighted at the $0.15 area, which was now a bullish breaker block.

Over the past month, the memecoin had tested this zone as support and then rebounded higher. This showed a bullish structure in place once again, but also highlighted the $0.3 area as a key resistance.

At press time, the RSI was above neutral 50, showing a momentum shift toward the bulls. The OBV was also rising over the past ten days, making for a feasible buying opportunity for MOODENG bulls.
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#HTX 12th-Anniversary Carnival#Share Your Thoughts on Popular Assets in June#Claim1,200 USDT in the Monthly Creation Challenge#Do you think SQD is promising?#Do you think BULLA is promising?
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