Moodeng price breaks trendline as 6% fall invalidates short-term bullish recovery
Moodeng price fell 6% today
Moodeng’s price action has reversed course following a strong four-day bullish stretch that saw consecutive daily upcloses.
This sequence came to an end on Tuesday, where a bearish spinning top candlestick pattern signalled the start of hesitation at higher levels.
- Moodeng price fell 6% today, breaking below key short-term trendline support
- Volume decline during today’s selloff shows weak bearish conviction
- Neutral RSI hints at possible consolidation near current price zone
Although some early signs of fatigue appeared, the short-term bullish structure remained intact by Tuesday’s close. It was supported by an upward trendline on the one-hour chart, which had been driving higher highs and higher lows since the beginning of the week.
Moodeng price dynamics (May - June 2025). Source: TradingView
However, the story has changed today. Moodeng price extended its decline through the Asian and European sessions, falling by 6% to a low of $0.2005. This drop sliced below the previous day’s low at $0.2024, the 20-day EMA at $0.2090, and most importantly, broke through the rising trendline that had defined the recent short-term uptrend. The breach of this key support structure shifts the focus away from the recent recovery and brings the broader bearish trend that has defined price movement since May back into play.
Moodeng RSI on 4-hour chart flattens near 50 suggesting market indecision
Despite the sharp drop in price, a closer look at market internals offers a more nuanced picture. The decline has occurred on falling volume, suggesting that the selloff may lack conviction. This lack of strong follow-through on the downside reduces the likelihood of an aggressive continuation, at least in the immediate term. Further reinforcing this view is the RSI on the 4-hour chart, which continues to hover around neutral territory. Such readings often indicate indecision among market participants, which opens the door for a potential consolidation phase.
If this consolidation develops, Moodeng may pause its current decline and trade within a limited range before a new directional push emerges. Key technical levels to monitor include the 50-day EMA at $0.1770 as the next support zone for any further downside movement. On the other hand, a recovery attempt could see resistance reasserted near $0.2200.
In summary, Moodeng’s break below its trendline suggests a return to broader bearish structure, but soft volume and neutral RSI readings argue that sellers are not dominant. This sets the stage for a likely period of sideways movement before the next major move unfolds.
Moodeng price pulled back from a 7-day high after facing intraday rejection. The retracement lost momentum as price retested the 20-day EMA support following four straight bullish sessions.
