Mamo crashed shortly after it started acting on Coinbase and stopped a spans of a week that the token had stimulated more than 120%.
Summary
- Mamo fell almost 20% after the Coinbase list, after he had won more than 120% earlier in the week.
- The trade volume for Mamo rose by 150%in the last day, because traders seem to lock after the rally profit.
- Data on chains show an increase in whale accumulation in addition to a decrease in the exchange balance in the last 7 days.
According to data from crypto.news, Mamo (Mamo) reached a record high of $ 0.227 on Thursday 7 August before he fell almost 20% as the sales pressure was mounted. Despite the small pullback, token has risen more than 63% on the weekly period of time and it has been won more than 1,300% since the launch in May.
In the last 24 hours, Mamo’s daily trade volume has risen more than 150% in the midst of the price fall, a likely indication that traders are hurrying to leave positions and to take a profit after the rapid start of the token in the days prior to his Coinbase debut.
Will Mamo Price Crash?
The first sale after an exchange list is common in the very volatile crypto market, especially after a record high, because early holders often sell their tokens to get a profit.
However, this sales pressure can relieve in the short term. Bullish investors could see the price baptism as a buying option and start to accumulate at lower levels.
At the time of the press, Mamo traded above his intraday layer of $ 0.171 and showed signs of repairing previous losses.
Various bullish factors now seem to support the possibility of a trend in the short term.
Firstly, Mamo has secured two exchange listings last week. With the Coinbase offer Now live, token has received credibility among American investors, while last week’s Coinex list is further expanding its accessibility for international markets.
Lists at major stock exchanges often lead to extensive access to retail, improved market depth and wider investor confidence, especially in the American market, where compliance and brand recognition matter.
Secondly, data on chains from Nansen shows that whale accumulation remains strong. In the past seven days, portfolios have categorized as large holders their MAMO balance by 16.5%, so that the total whale companies have been brought to 2.41 million tokens. This accumulation pattern suggests that high neat value entities are further expecting and positioning accordingly.
Thirdly, the range of MAMO on exchanges has fallen by 10.5% in the same period and drops to 27.7 million tokens. A decrease in the exchange balance usually indicates that traders move tokens to long-term storage, reducing the available Sell-Side liquidity. In combination with the increasing demand, this can cause an upward price pressure and strengthen the matter for a constant recovery.
If the market sentiment remains positive and liquidity continues to grow, token can probably try a new outbreak over his recent all-time high.
Mamo -Price analysis
On the daily graph, Mamo remains above both the 20-day and the 50-day simple advancing averages, a technical signal that supports the continuation of the current upward trend. These advancing averages are often used as dynamic support levels, and above them continue to suggest that Bullish Momentum remains intact.
The MACD indicator further strengthens this display, with the MACD line that crosses above the signal line, accompanied by the expansion of green histogram staves. This crossover usually reflects the growing bullish momentum and suggests that upward price pressure can continue in the short term.
In the meantime, the relative strength index, which helps to gauge Overbough or over -sold circumstances, withdrawn to a lecture of 64 after more than 70 in the previous session, an area that is usually considered overbough. The current downward slope in the RSI indicates cooling momentum, although it remains on neutral-to-bullish territory.
From the moment of the press, Mamo acted near the 78.6% Fibonacci retracement level measured from the recent high to the local swing low.
A successful struiting of this level could see to see the support, which makes bullish traders be encouraged to re -enter and return the all time. A confirmed outbreak above this zone could lead to price discovery, with the next psychological resistance level near $ 0.25 as a possible upward target.
Conversely, a decrease below the 61.8% Fibonacci retracement level can make the bullish setup invalid. In that case, an increased sales pressure can occur, which makes it possible to push token to the psychological support level of $ 0.10, especially if the wider market sentiment weakens.
Publication: This article does not represent investment advice. The content and materials on this page are only for educational purposes.
