Can Mubarak Continue Its Upward Trend After Rallying 19% In Recent Sessions?
- MUBARAK is trading at around $0.044 after a 19% jump.
- Its daily trading volume has skyrocketed by over 164%.
A moderate bullish momentum is spreading across the crypto market, pushing the market cap to the range of $3.32 trillion. Persistent buying pressure has the potential to lift prices to new highs. Among the altcoins, MUBARAK has followed suit, registering a solid surge of over 19.24% within the last 24 hours.
The day began with the asset trading at approximately $0.03826 on the low end. With the bulls in command, the crucial resistance of MUBARAK at $0.03947 and $0.04585 has broken and later, climbed to a high of $0.04602.
At the time of writing, MUBARAK traded within the $0.04497 level, with its market cap reaching $44.97 million. Besides, the asset’s daily trading volume has soared by over 164%, resting at $81.93 million.
Mubarak has posted a loss of over 13.46% in the last seven days. The asset has begun trading at around $0.053, and the potent bears have pulled the price back to its weekly low at $0.036.
Mubarak on the Move — But Can the Rally Hold Strong?
If the MUBARAK bulls attain enough strength to reclaim dominance, it will likely drive the asset to climb toward the range of $0.04530. Upon clearing this resistance zone, it could initiate a golden cross to form and rally toward the $0.046 mark.
In the case of an intensified bearish grip, the asset could pull the price back to $0.04464. MUBARAK’s further correction on the downside might trigger the emergence of a death cross, pushing it to retrace toward a low of the $0.043 range.
The Moving Average Convergence Divergence (MACD) line is attempting to cross above the zero line, suggesting a growing bullish momentum. Meanwhile, the signal line remaining below zero indicates that the overall trend is still recovering from bearish territory. Additionally, the Chaikin Money Flow (CMF) indicator, stationed at -0.06. It indicates mild selling pressure in the market, with the money flowing out of the asset, signalling a cautious bearish sentiment.
Moreover, the Bull-Bear Power (BBP) reading of 0.0056 signals a very slight bullish bias in the market. Mubarak’s daily relative strength index (RSI) at 59.07 implies the neutral to slightly bullish territory.
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Can Mubarak Continue Its Upward Trend After Rallying 19% In Recent Sessions?
- MUBARAK is trading at around $0.044 after a 19% jump.
- Its daily trading volume has skyrocketed by over 164%.
A moderate bullish momentum is spreading across the crypto market, pushing the market cap to the range of $3.32 trillion. Persistent buying pressure has the potential to lift prices to new highs. Among the altcoins, MUBARAK has followed suit, registering a solid surge of over 19.24% within the last 24 hours.
The day began with the asset trading at approximately $0.03826 on the low end. With the bulls in command, the crucial resistance of MUBARAK at $0.03947 and $0.04585 has broken and later, climbed to a high of $0.04602.
At the time of writing, MUBARAK traded within the $0.04497 level, with its market cap reaching $44.97 million. Besides, the asset’s daily trading volume has soared by over 164%, resting at $81.93 million.
Mubarak has posted a loss of over 13.46% in the last seven days. The asset has begun trading at around $0.053, and the potent bears have pulled the price back to its weekly low at $0.036.
Mubarak on the Move — But Can the Rally Hold Strong?
If the MUBARAK bulls attain enough strength to reclaim dominance, it will likely drive the asset to climb toward the range of $0.04530. Upon clearing this resistance zone, it could initiate a golden cross to form and rally toward the $0.046 mark.
In the case of an intensified bearish grip, the asset could pull the price back to $0.04464. MUBARAK’s further correction on the downside might trigger the emergence of a death cross, pushing it to retrace toward a low of the $0.043 range.
The Moving Average Convergence Divergence (MACD) line is attempting to cross above the zero line, suggesting a growing bullish momentum. Meanwhile, the signal line remaining below zero indicates that the overall trend is still recovering from bearish territory. Additionally, the Chaikin Money Flow (CMF) indicator, stationed at -0.06. It indicates mild selling pressure in the market, with the money flowing out of the asset, signalling a cautious bearish sentiment.
Moreover, the Bull-Bear Power (BBP) reading of 0.0056 signals a very slight bullish bias in the market. Mubarak’s daily relative strength index (RSI) at 59.07 implies the neutral to slightly bullish territory.
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