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MOODENG 's current situation looks pretty challenging, with a double-top pattern on its one -day chart and a 35% drop in the last seven days. If buyers don't step in soon , the memecoin could potentially drop further towards $0.134. The recent 7% drop in 24 hours, with a current trading price of $0.256, isn't helping either. It's worth noting that MOODENG's decline is mirroring the broader market trends, with over $1.5 billion in liquidations within two days, according to Coinglass. The hawkish stance of Federal Reserve officials during the FOMC meeting has contributed to this pullback. However, some analysts are still optimistic about MOODENG's potential for a bullish breakout, citing a falling wedge pattern on the chart. If the coin can break through the upper wedge trendline, it could potentially rise to $0.56, $0.74, or even $0.93. But for now, it's essential for MOODENG to stay above $0.1891 to potentially move towards the first major resistance level at $0.3429. As for the recovery, it's difficult to predict exactly how far MOODENG will bounce back, but it's likely to be a gradual process. The coin's market cap is currently at $269 million, and it's ranked #205 among all cryptocurrencies. With a circulating supply of 990 million coins, MOODENG has a long way to go to reach its all-time high of $0.593. But with the right market conditions and a bit of bullish momentum, it's possible that MOODENG could make a significant recovery in the coming months ¹ ².