The post MOODENG spikes 250% over hippo’s death hoax, falls again – What next? appeared on BitcoinEthereumNews.com. Moodeng pumped to $0.253 on Binance Futures on Saturday, the 6th of December. At the time of writing, the Funding Rate, paid every 4 hours, was at 0.61%. A death hoax spurred a nearly 250% price bounce within an hour. This shows how low liquidity, especially during weekends, can lead to extreme volatility in price action. But will this pump be sustained? Moodeng: Profit-taking is important Source: MOODENG/USD on TradingView On the 1-day chart, the daily bearish structure flipped bullishly on Saturday. This happened when the previous lower high at $0.0958 was breached in this timeframe. At the time of writing, the swing high from November at $0.1093 was being tested as resistance. The DMI showed that upward momentum has caught hold, and the trend has shifted bullishly. This inference came as both the ADX and the +DI (green) were above 20. However, the A/D, a nuanced volume indicator, slid lower despite the recent surge in spot buying activity. Since the previous day’s close was well below the day’s high, it implied that smart money used the swift pump to take profits and drive prices lower. It reflected demand exhaustion and was a bearish divergence. Source: MOODENG/USD on TradingView On the 1-hour chart, too, the A/D indicator fell lower before bouncing higher. It does not inspire bullish confidence, though the DMI showed a strong uptrend in progress. The imbalance (white box) at $0.095 was an interesting demand zone. Moodeng’s [MOODENG] price dip to this support zone might see another bounce. Such a bounce could target the $0.116-$0.12 liquidity pocket overhead. The bullish scenario Even though the structure was bullish, Moodeng looked like a risky venture for the bulls. The high Funding Rate meant that longs get paid well for their efforts, but harvesting funding isn’t every trader’s forte. A rally… The post MOODENG spikes 250% over hippo’s death hoax, falls again – What next? appeared on BitcoinEthereumNews.com. Moodeng pumped to $0.253 on Binance Futures on Saturday, the 6th of December. At the time of writing, the Funding Rate, paid every 4 hours, was at 0.61%. A death hoax spurred a nearly 250% price bounce within an hour. This shows how low liquidity, especially during weekends, can lead to extreme volatility in price action. But will this pump be sustained? Moodeng: Profit-taking is important Source: MOODENG/USD on TradingView On the 1-day chart, the daily bearish structure flipped bullishly on Saturday. This happened when the previous lower high at $0.0958 was breached in this timeframe. At the time of writing, the swing high from November at $0.1093 was being tested as resistance. The DMI showed that upward momentum has caught hold, and the trend has shifted bullishly. This inference came as both the ADX and the +DI (green) were above 20. However, the A/D, a nuanced volume indicator, slid lower despite the recent surge in spot buying activity. Since the previous day’s close was well below the day’s high, it implied that smart money used the swift pump to take profits and drive prices lower. It reflected demand exhaustion and was a bearish divergence. Source: MOODENG/USD on TradingView On the 1-hour chart, too, the A/D indicator fell lower before bouncing higher. It does not inspire bullish confidence, though the DMI showed a strong uptrend in progress. The imbalance (white box) at $0.095 was an interesting demand zone. Moodeng’s [MOODENG] price dip to this support zone might see another bounce. Such a bounce could target the $0.116-$0.12 liquidity pocket overhead. The bullish scenario Even though the structure was bullish, Moodeng looked like a risky venture for the bulls. The high Funding Rate meant that longs get paid well for their efforts, but harvesting funding isn’t every trader’s forte. A rally…