Over the weekend, $MOODENG saw a crazy move when it spiked 250% to $0.253 on Binance Future in just one hour due to fake rumor about the death of hippo Moo Deng. However, behind this hit were dangerou warning signal from smart money.
🔹 Fake new combined with light liquidity at the end of the weekend Saturday, December 6 created the perfect condition for a sweeping price hit. Funding Rate spiked to 0.61% paid every 4 hour, making holding Long orders extremely red and risky.
🔸 Although the price structure on the daily 1D chart turned Bullish when breaking $0.0958, the Accumulation/Distribution indicator decreased in depth.
The price increased but the Accumulation/Distribution decreased, which is a typical bearish divergence signal Bearish Divergence. This show that Smart Money took advantage of the syntax pump to dump rather than collect more.
🔹 The price corrected the demand zone Demand Zone at $0.095. A bounce up here is possible.
If it bounce, the price could move toward the liquidity zone of $0.116 - $0.12 before continuing the downtrend.
This pump bring a heavy fundamental event. With the Accumulation/Distribution weakening, the Bear are still in control below. Those who are in profit should consider preserving capital.
In your opinion, is the drop to $0.095 an opportunity to catch the bottom of the recovery or a falling knife to stay away from?
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