Significant increase in pumping, increase in trading volume, what is happening with MOODENG P?
Given the enormous trading volume and strong bullish confirmation from all indicators, the price movement suggests real accumulation and not just a bullish trap. However, this kind of sudden spike may attract late buyers driven by fear of missing out, and then the price often sharply retraces before another upward movement.
If you're looking for a long-term buying opportunity, the best entry points are when the price retraces to 0.04592 or 0.04543 or 0.04503, confirming this with the appearance of a bullish engulfing pattern or rapid liquidity flow followed by a recovery from those levels.
Entry point: Watch for a rebound to the area
0.04503-0.04592. Confirm this with the appearance of a bullish reversal candle, or a bullish reversal pattern on a smaller time frame, or by quickly activating stop-loss orders with a rapid recovery.
- Take profit 1: 0.04781 (first resistance level)
Take profit 2: 0.04937 (main supply area)
- If the price drops and closes above 0.04937 with high trading volume, you can target short-term momentum reaching 0.05000.
Place a stop-loss order below the lowest swing or the demand area you entered from.
If the price closes below the level of 0.04454 or drops below
the level of 0.04369, I would be cautious about buying and expect a larger retracement towards
0.04158-0.04139
$MOODENG
