Moodeng price loses upside conviction after first bullish close in six weeks
Moodeng price drops 5% as weekend rally fades
Moodeng price opened the week on a weaker note after a dramatic price surge over the weekend failed to sustain momentum into Monday’s sessions. Between Friday and Sunday, Moodeng saw a strong rally of over 20%, breaking through important technical levels, including the 20-day EMA at $0.1570 and the 50-day EMA at $0.1610.
Highlights
-Moodeng drops 5% today after weekend rally fails to hold above key EMAs
-Price retreats below 20 and 50-day EMAs, highlighting weak follow-through
-Hourly 20 EMA at $0.1540 is acting as the last immediate support
This upward movement also marked a bullish market structure break above the high of the previous two weeks at $0.1610, ending a series of five consecutive bearish weeks and recording its first green weekly candle in six weeks.
Moodeng price dynamics (May - June 2025). Source: TradingView
In early Asian trading on Monday, Moodeng extended its gains to set a three-week high at $0.1675. However, this bullish momentum reversed quickly, and sellers stepped in aggressively. By the European session, Moodeng had dropped to around $0.1553, marking a sharp 5% loss for the day. This decline also pushed price back below the 20 and 50-day EMAs, erasing most of the weekend excitement and signaling that the bullish breakout lacked strong follow-through.
Moodeng daily RSI fails to confirm rally momentum as price slides under EMA levels
A closer look at technical indicators reveals the challenges behind Moodeng’s failed rally. The daily relative strength index never moved decisively into bullish territory despite the sharp rise in price, indicating weak internal momentum. Meanwhile, on the shorter-term 4-hour chart, RSI remains in a relatively stronger position near 62, suggesting some near-term bullish bias, but not enough to counter the broader weakness.
On the hourly chart, Moodeng’s decline has been temporarily cushioned by the 20 EMA at $0.1540, offering immediate support. Currently, price holds slightly above this level at $0.1553. If this support fails to hold, traders will likely turn attention to the next key support level at the 100-day EMA around 0.1480, which could act as a stronger floor for price action.
From a monthly perspective, Moodeng’s performance looks grim, sitting on a 23% loss month to date despite the recent surge attempt. This underlines that last weekend’s gains were likely driven by short covering or speculative buying rather than strong fundamental conviction.
Unless price can reclaim and sustain levels above the 20 and 50 day EMAs, further declines remain a real risk. The market now watches closely to see whether the 1-hour 20 EMA support can prevent a deeper correction in the coming days.
Moodeng price rejected $0.14 on Friday and erased its weekly gain as sellers stayed strong. The chart showed lower highs and lows, confirming the bearish trend after stalling at $0.1555.
