Moodeng price drops for the eighth straight day as bears take control after EMA breakdown

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Sholanke Dele

18.06.2025

Moodeng price drops for the eighth straight day as bears take control after EMA breakdown — Moodeng faces bearish momentum

Moodeng’s price action has been battered by persistent selling pressure, recording eight consecutive days of losses and shedding over 35% in the process. This sharp decline erased a significant portion of May’s rally and fully rebalanced the buy side inefficiency left in the mid-month surge. The downturn pushed price beneath key support levels, including the 20-day EMA at $0.2075, the 50-day EMA at $0.1745, and the 100-day EMA at $0.1490, highlighting the strength of bearish momentum.

• Moodeng has lost over 35% across eight consecutive red days

• Today’s 2% recovery struggles under near-term EMA resistance

• RSI remains below 50 suggesting sellers still control the trend

Tuesday’s price action proved to be pivotal. After touching the base of the inefficiency gap near $0.14, Moodeng found short-term support, which helped cushion the decline. This level acted as a technical barrier that halted further losses and sparked a mild lift into the late hours of the session. However, despite this bounce, the memecoin still posted a 5.2% decline for the day and closed at $0.1460.

Moodeng price dynamics (May - June 2025). Source: TradingView

The recovery continued modestly into Wednesday’s Asian session. As of today’s European session on June 18, Moodeng is trading near $0.1490, marking a daily gain of just over 2%. Nonetheless, the broader performance remains negative, with the week registering a 3.8% drop and the month of June standing at a deep 26.5% loss.

Moodeng RSI stuck near 40 signals weak buying interest

Technically, the rebound is facing headwinds. On the hourly chart, the 20 EMA is acting as near-term resistance, stalling upward progress. Additionally, the 4-hour chart points to stronger resistance at $0.1550, the level of the 20 EMA which could limit any sustained upside attempt in the near term.

Momentum indicators further question the sustainability of the bounce. The daily RSI has stayed in bearish territory and currently prints around 40, still above oversold thresholds. This suggests there may be room for further downside unless buyers step in more aggressively.

If Moodeng loses its footing at the $0.14 support level, the next near-term bearish target sits at $0.1262, a prior resistance turned support zone. Until a clean break above short-term EMA resistance is achieved, the bias will continue to favor the bears.

Moodeng rejected $0.1650 after a Gravestone Doji signalled fading bullish strength. Price bounced 3% off the 100 EMA, but upside stayed capped by RSI and EMA resistance

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