Will Morpho hold support as selling dominates current trend?

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Morpho slides 9.03% to $2.09 today

Highlights

Raydium's addition of new Morpho trading pairs expanded token access and boosted liquidity within its ecosystem.
Morpho's daily trading volume surged 55% over its 30-day average, signaling significantly increased market activity post-listing.
MORPHO/USD faces pronounced short- and medium-term selling pressure, with indicators signaling bearish sentiment and a likely range of $1.9944 to $2.1956 over the next 2–3 days.

Volume surge and broader access as Raydium listing drives flows

Raydium's announcement of new trading pairs for Morpho enhanced the token's accessibility and liquidity, according to Kucoin. The listing introduced Morpho to Raydium's broader user base, creating opportunities for increased capital flows and raising the asset's market profile. This was accompanied by a notable surge in daily trading volume, which climbed 55% above its 30-day average and suggests sustained market participation following the exchange event, though price action has remained under broader selling pressure.

Sell momentum builds as price tests resistance amid oversold signals

On the technical front, MORPHO/USD is trading below the MA-20 at $2.1968 and the MA-50 at $2.1808 on the hourly chart, while holding above the MA-200 at $1.6773 on the daily timeframe. Immediate resistance is defined by the Ichimoku Kijun at $2.193, with support near $1.9944. Momentum indicators such as the Moving Average Convergence Divergence (MACD) and Average Directional Index (ADX) are in Sell mode. The Relative Strength Index (RSI) stands at 33.6; both the Stochastic RSI and Commodity Channel Index (CCI) indicate oversold levels. Bull/Bear Power flags intraday seller dominance, confirmed by sustained negative readings on the Awesome Oscillator.

Limited upside as downside risk dominates short-term outlook

In the next two to three trading days, the forecasted volatility band for MORPHO spans $1.9944 to $2.1956. The probability of an upward move is limited at 26%, while the likelihood of continued downside is significantly higher at 74%. The baseline view anticipates horizontal movement within this range, with any bullish scenario requiring a breakout above resistance at $2.193 and a bearish extension possible if support at $1.9944 gives way.

Anton Kharitonov, analyst at Traders Union, notes that Morpho has seen improved liquidity and visibility after the Raydium listing. Despite stronger trading volume and continued exchange interest, he observes that technical indicators remain decisively bearish. Momentum and oscillators confirm selling pressure, with upside potential limited by resistance. "Until MORPHO reclaims the $2.193 level, I see little reason to expect a reversal in the near term."

Earlier, analysts noted that Morpho showcased strong bullish momentum amid expanding adoption and high trading activity fueled by major platform integrations. However, the latest technical deterioration and increased selling pressure signal a shift in market dynamics, making sustained defense of the $1.9944 support level crucial for near-term stability.

Source of Data: MORPHO Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.