Moodeng erases weekly gains as price drops 35% from all-time high at $0.345
Moodeng’s recent surge has lost momentum after a sharp reversal wiped out all gains made this week. The altcoin, which had gained over 500% last week from $0.035 to $0.22, extended the rally early this week by another 50%, pushing price back up to its December 2024 launch level at $0.345 which is relatively the altcoin all-time high.
But the price rejected that zone just as aggressively. A decisive 35% drop midweek engulfed the previous daily bullish candle, forming a classic bearish engulfing pattern on the daily chart. This pattern flipped sentiment sharply and pushed price back down to $0.25.
Moodeng price dynamics (April - May 2025). Source: TradingView
Selling pressure has intensified further during Thursday’s European session. Moodeng is currently trading down 13% from Wednesday’s close and is testing key support at $0.217 — a level that previously acted as resistance in January. Below this threshold lies a broad zone of inefficient bullish price action between $0.14 and $0.217, which may now act as a magnet for price to rebalance liquidity.
Moodeng 4H RSI slips below 50, confirming short-term shift to bearish momentum
From a technical standpoint, the 4-hour RSI has dipped into bearish territory, suggesting Moodeng's momentum favors sellers in the short term. However, a potential area of support sits at the 50 EMA near $0.19, which could provide a temporary floor if price breaks through $0.217.
On the broader view, this week’s sharp rejection from launch-level highs and today’s continued selling pressure has erased the entire weekly gain. Moodeng is now trading near its weekly open, effectively neutralizing bullish progress.
Unless the altcoin holds above $0.217 and stabilizes, price could slide further into the $0.14–$0.19 zone to rebalance last week’s surge. The reaction around the 50 EMA will be key to watch heading into Friday.
Moodeng price surged 1100 percent in two days as investors' hype drove aggressive buying pressure. The vertical rally formed an overstretched chart setup that signals potential correction or heightened volatility.
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