MORPHO ($MORPHO) based on data from November 12, the price is approximately 1.97 USDT (24-hour increase of about +9.30% to +10%). Market cap is about $700 million. ATH (All-Time High) is $4.17, ATL (All-Time Low) is $0.70. Recently rebounded from the October low, but overall still in a recovery phase, influenced by the DeFi market and institutional consolidation. Below is the K-line chart analysis (daily/1H) using data from the past 30 days.
@Morpho Labs 🦋
$MORPHO
#Morpho

1. Recent K-line chart trend overview

  • Overall trend: Mid-term bear market (down approximately -53% from ATH), but strong short-term rebound.
    After the October low of $0.70, a rising wedge pattern formed, with prices oscillating in the $1.90-$2.10 range.
    In early November, there was a brief pullback due to the Balancer hack incident (on November 5, Morpho exposed a $284M xUSD de-pegging risk), but it quickly rebounded, showing buying support.

  • Key Patterns:

    • Rising Wedge (1H/4H Chart): Price testing upper resistance at $2.08-$2.10, MACD golden cross (green bars), RSI neutral (45-55).
      If it breaks above $2.24, it can confirm a bullish reversal, targeting $2.40-$2.60 (new ATH potential).

    • Support/Resistance:
      Support at $1.90-$1.95 (20-day EMA),
      Resistance at $2.08 (50-day EMA).
      Volume increased (average weekly +44% in November), but caution is needed for false breakouts.

  • Technical Indicators:

    • Moving Averages: 7-day EMA > 25-day EMA ($1.87), but below 100-day EMA ($2.11), short-term bullish dominance.

    • RSI (14-day): 50 (neutral), not overbought, suitable for adding positions.

    • MACD: Line above the signal line, histogram turning positive, momentum upward.

    • Volume: Average daily of $40M+ in November, higher than October, showing institutional interest (Coinbase loan integration contributing $1B+).

  • Drivers:

    • Bullish: Plume/Nest protocol integration (November 4, boosting RWA yields); Coinbase/Cronos expanding TVL to $12B (41% institutional funds); MiCA compliance driving adoption in Europe.

    • Bearish: Liquidity pressure from the Balancer incident; broader cryptocurrency market pullback (BTC oscillating around $113K).

  • Short-term forecast (1-2 weeks): If it holds above $1.95, target $2.20 (+12%); if it breaks below $1.90, it may retest $1.85 (-6%). Long-term (by the end of 2025): Analyst consensus at $3.20 (+63%), driven by Fee Switch activation and V2 upgrades.