Mog Coin [MOG] Seized the Spotlight as Bitcoin Neared $64K

Mog coin [MOG] seized the spotlight as Bitcoin neared $64K during the early hours of Monday, 7th October, soaring over 16% to claim the title of top gainer in the last 24 hours

Mog coin [MOG] stole the show as Bitcoin approached $64K in the early hours of Monday, 7 October, surging over 16% to become the top gainer in the last 24 hours, according to CoinMarketCap.

This impressive rally was highlighted by a bullish MACD crossover on the daily price chart. Further technical analysis revealed plenty of space available for continued buying activity.

Mog coin recovered major losses

Source: Coinalyze

The losses from the previous pullback to $0.000001318, after facing resistance at $0.000001641, were quickly recovered within five trading days, as MOG achieved a daily gain of over 8%.

Now trading at $0.000001688, this recent surge has brought relief to holders who bought MOG back in early August when it faced resistance at $0.000001682 and entered a slump.

After two months, these investors are finally back in profit. Moreover, the buying momentum remains strong, as the RSI indicates that it has not yet reached an overbought condition. This could encourage holders to maintain their positions in Mog coins.

If this trend continues, the next resistance level could be around $0.000001940. This could attract new buyers, who may view the current price as an ideal entry point for potential future gains.

If they believe Mog coin is nearing its bottom, FOMO could be enough to keep them engaged in the race.

Investors may be losing faith

Despite the several bullish signals, investors might be concerned about Mog coin repeating its cycle from 60 days ago, which could lead to rising concerns and potential panic.

This has resulted in a significant spike in MOG coins entering exchanges, mainly from whale wallets, which could affect MOG’s ability to sustain its rally.

Source: IntoTheBlock

Read Mog Coin’s [MOG] Price Prediction 2024-25

Hence, MOG finds itself in a dilemma, unsure of which path the next few days will take.

Therefore, it is essential to monitor these factors closely for MOG to continue its rally toward $0.000001940. However, if recent gainers decide to pull out, MOG could face consolidation, potentially revisiting its August pullback.

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