Moodeng price hits six-day low as momentum suggests deeper decline
Moodeng bears gain momentum
Moodeng price is facing a pivotal week after Wednesday’s sharp breakdown disrupted its previous bullish structure. The asset plunged over 16% from its Wednesday high of $0.2134 to a six-day low of $0.1786, marking the steepest single-day drop so far this June. The sharp move came as price broke out of a bullish channel that had previously guided its upside momentum. The breakout has flipped the weekly tone to bearish and now appears to be a bearish continuation pattern rather than a bullish retracement
• Moodeng dropped over 16% after breaking below a bullish channel on Wednesday
• Price is hovering just above $0.1755 support backed by the 50-day EMA
• RSI readings on daily and 4-hour charts point to sustained bearish momentum
Thursday’s market action has been more subdued. During the Asian and European sessions, Moodeng traded sideways near $0.1821, losing just 1.5% for the day. This mild move contrasts Wednesday’s volatility and reflects limited follow-through in the immediate aftermath of the channel breakdown. Importantly, price has not moved below the previous day’s low, suggesting a pause rather than continuation for now. Still, the broader technical picture offers limited optimism.
Moodeng price dynamics (May - June 2025). Source: TradingView
The current leg to the downside is approaching last week’s support level at $0.1755. This level is reinforced by the 50-day EMA, making it a critical zone to monitor. A break below this area could expose the next support at $0.1710, potentially accelerating losses if selling pressure reemerges. Moodeng’s current location below the 20-day EMA highlights short-term weakness, and momentum readings support this bearish tone.
Moodeng daily RSI drops below 50 confirming shifts in momentum
On the daily chart, the RSI has fallen below 50, reflecting a shift in momentum away from buyers. This aligns with the 4-hour chart, where Moodeng trades below the 20, 50, and 100 EMAs. The 4-hour RSI stands at 36.0, firmly in bearish territory, reinforcing the negative sentiment already forming on the daily chart.
The lack of recovery after Wednesday’s steep drop shows that buyers are yet to step back in at scale. If Moodeng holds above $0.1755, it might consolidate before the next directional move. However, technical indicators currently point to an environment where sellers have the upper hand. Price action in the coming sessions near support will offer clearer insight into whether Moodeng finds a base or extends lower below the previous week’s low.
Moodeng price fell 6% breaking below key short-term trendline support. Volume decline during today’s selloff shows a weak bearish conviction
