- MAMO surged from $0.025 in mid-June all the way to a high $0.191 with great bullish momentum.
- Volume increased by 9.97% to $5.61 million, with active buying well above major moving averages.
- Traders aim for $0.25 next with entries around $0.1612 and stop-losses at $0.1481 for risk management.
MAMO has shown impressive growth since mid-June, climbing from $0.025 to a high $0.191. Steep growth indicates increasing market attention and strong bullish energy. The token currently stabilizes near key resistance levels, signaling potential for further upside movement in the coming days.
According to crypto analyst Bankrbot, MAMO’s price action reveals a clear bullish structure. The token has experienced higher highs and higher lows, a classic indicator of uptrend continuation. Bankrbot’s data shows tremendous buying pressure and validates solid technical momentum pushing prices higher.
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MAMO Faces Resistance Near $0.20
The token is trading above its 20-day moving average at $0.137 and 50-day average at $0.097, affirming solid bullish momentum upwards. Increasing trading volume with increases in prices provides additional support for the bullish argument, indicating buoyancy from purchasers who are driving MAMO upwards.
Resistance can now be seen between $0.19 and $0.20 per coin, with major targets set at $0.22 and $0.25 per coin. Support levels remain at $0.16 to $0.155 and lower between $0.145 and $0.13 per coin. These levels find correlation with moving averages for a possible buy entry for new investors.
Price Forecast and Trading Strategy
MAMO’s price surged 3.07% over the last 24 hours to reach $0.1724, with trading volume spiking 9.97% to $5.61 million, according to CoinMarketCap. Volume/market capitalization ratio stands at 11.95%, a sign of more active participation and increased interest on the part of traders.
According to a crypto analyst post the on-chain data shows that during MAMO’s rally at $0.1771, the trading volume achieved a new high at over 10.9 million. Volume dropped slightly, but trading is still active.
As the buying pressure persists, MAMO can potentially retrace the older high mark of $0.1953. Traders recommend entries at $0.1612 with stop-losses around $0.1481 for an efficient policy of risk management.
Bullish K-line patterns, strong volume, and social media buzz create a positive outlook for MAMO. Investors will be watching the move closely with the token surfing waves towards its subsequent significant target at $0.25, making it an asset to watch amid ongoing market dynamics.
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