The Mumu The Bull price is up 150% on the weekly timeframe after a 34% surge in the past 24 hours to trade at $0.00009144 as of 7:25 a.m. EST.
With this meteoric rise, the MUMU price was able to establish a new all-time high of $0.0001002. Since reaching this peak earlier today, the meme coin has pulled back 7%.
The Mumu The Bull Price Trying To Flip A Major Resistance
4-hour chart for MUMU/USD (Source: GeckoTerminal )
The Mumu The Bull price was able to break above the resistance level at $0.00008212 in the last couple of hours, and is now attempting to flip the barrier into support. If MUMU closes a 4-hour candle above this mark within the next 8 hours, it could have the foundation needed to keep climbing in the next 12 hours. The crypto might then rise to as high as $0.00011345.
On the other hand, the Mumu The Bull price getting rejected by the $0.00008212 resistance level could invalidate the bullish thesis. In this alternative scenario, MUMU stands the risk of testing the $0.00004794 support. A break below this technical safety net might then lead to the meme coin falling to $0.00003085.
Mumu The Bull Price Still Showing A Lot Of Technical Strength
Technical indicators on MUMU’s 4-hour chart point to a continued increase in the meme coin’s price. However, potential bearish signs could start to show as indicators suggest the crypto is overbought. More specifically, traders might want to keep an eye on the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) indicators.
In the last couple of hours, RSI readings have risen from 66 to 79. This indicates a lot of bullish strength, but it also signals that the Mumu The Bull price is entering overbought territory.
Traders could soon identify the current RSI readings as a short entry since they suggest MUMU’s downside potential is greater than its upside potential. However, it is not unusual for RSI readings to remain this high when a crypto is pumping.
Meanwhile, the MACD line is breaking away above the MACD Signal line. Not only could this mean that the Mumu The Bull price is in a positive trend, but also suggests that the meme coin’s bullish momentum is growing stronger. Traders will want to keep an eye on the MACD Histogram, since the indicator’s values have somewhat leveled off.
