KEY TAKEAWAYS
Mog Coin price surged to $0.0000017, its highest level since January, driven by intense buying pressure.
On the 4-hour chart, MOG broke out of a symmetrical triangle, overcoming resistance at $0.0000011.
The ADX has surged, confirming strength, while a bullish golden cross formed on the daily chart.
Mog Coin (MOG), the cat-themed meme coin built on Ethereum, has rallied to its highest price in nearly six months. At press time, the Mog Coin price had hit $0.0000017, representing a 65% hike in the last seven days.
MOG last hit this level in the last days of January. According to CCN, this price increase was due to higher demand for the meme coin and increased capital flowing into the market.
Despite the recent jump, MOG’s price is still down 58% from its all-time high. However, according to this analysis, the token will likely inch closer to that peak as time passes.
MOG Breaks Symmetrical Triangle
Zooming into the 4-hour chart, MOG surged to $0.0000017 after breaking above the upper trendline of a symmetrical triangle. As a result, the memecoin rose above the resistance at $0.0000011 while bulls held the support at $0.00000090.
Following the move, the Awesome Oscillator (AO) has flashed consecutive higher histogram bars. The rise in the AO reading indicates bullish momentum.
If sustained, this could drive the Mog Coin price higher than $0.0000020 in the short term. To support this bias, CCN also looked at the Average Directional Index (ADX), which measures directional strength.
At press time, the ADX reading has risen to 61.12. Typically, the ADX needs a minimum reading of 25 to validate a strong movement.
Should this trend continue, the Mog Coin price is likely to move closer to its all-time high as mentioned earlier.
Amid rising market momentum, several crypto analysts believe that MOG still has significant upside potential.
Notably, prominent trader Ansem shared on X that MOG and Pudgy Penguins (PENGU) have yet to reach the “escape velocity” typical of significant breakout during bull cycles.
Should this be the case, the MOG might be able to reclaim the $1 billion market cap.
MOG Price Analysis: Primed for Parabolic Move
From a technical standpoint, momentum appears to favor the bulls. The Exponential Moving Average (EMA) structure has just flashed a key signal: the 20-day EMA (blue) has crossed above the 50-day EMA (yellow), forming what’s commonly known as a golden cross.
This crossover is widely interpreted as a bullish trend confirmation, suggesting that Mog Coin could strengthen its upswing as buyers gain confidence from the improving technical structure.
If this remains the same, MOG’s price might break the resistance at $0.0000023. If validated, the meme coin’s market value might hit $0.0000028.
On the contrary, if the token gets overbought and selling pressure increases, this might not happen. In such a scenario, Mog Coin might decline to $0.0000011.
