Moodeng price extends losses to fourth day as low volume keeps selloff in check
Moodeng drops for fourth straight day
Moodeng price continues its downward slide on Thursday, May 29, marking its fourth consecutive day in the red.
The altcoin has now dropped over 11% this week as bearish pressure persists. Yet, signs of a potential shift are forming as price approaches a strong confluence of technical support levels.
- Moodeng drops for fourth straight day as price nears key demand zone
- RSI and volume suggest bears lack strong conviction in current slide
- Support around $0.2300 and $0.2177 may shape next move for Moodeng
Today’s European session shows Moodeng trading near $0.2446, after opening at $0.2511. Earlier during the Asian hours, the asset attempted a rebound to $0.2575, building on Wednesday’s recovery from a low of $0.2373. However, despite the bounce, Wednesday still closed in the red, and today’s -2.65% decline resumes the broader downtrend.
Moodeng price dynamics (Jan 2025 - May 2025). Source: TradingView
What makes the current structure noteworthy is the presence of a daily and 4-hour demand zone below the current price, which has repeatedly absorbed bearish pressure since the start of the week. Price is now pressing toward the lower bound of this zone, where the 100 EMA on the 4-hour chart sits near $0.23. This level has acted as a key turning point since last week and may serve as a reference point for either further declines or a reversal.
Moodeng price trend at risk of further downside if 100 EMA fails to hold
Supporting the idea of a potential price floor is the recent drop in trading volume. While Moodeng’s decline appears steep, the lack of heavy volume suggests institutional players are not aggressively driving the selloff. This context limits the conviction behind the move and hints that bears may lose control if momentum shifts or volume returns.
Technically, the 4-hour RSI is in bearish territory at 43.3, leaving room for further downside. Price appears to be setting up another lower low toward Wednesday’s bottom at $0.2373. But unless that level breaks decisively, buyers may defend the area around the 100 EMA and $0.2177, which has provided support since last week.
If buyers hold this support zone and reclaim intraday resistance, Moodeng could stabilize or even reverse. The next few sessions will depend heavily on whether demand increases from these levels, or whether selling pressure deepens enough to challenge the $0.2177 support.
Moodeng price loses 10% by midweek, but demand zone and RSI invites bullish interest. Daily RSI near 58 keeps broader bullish trends still technically valid.
