MUBARAK Breakout Signals Growing Momentum Toward $0.03

MUBARAK has already broken out of an important resistance area, and buying pressure is increasing with the possibility of a future target of $0.03. The token is above the previous resistance as it is now a short-term support.

This kind of trend indicates that buyers are still in charge, despite the recent progress. A high-impulsive rally on the four-hour timeframe was followed by a breakout.

The price has not dropped off strongly. Instead, it leveled off above the breakout area, which means that higher prices could be expected instead of being exhausted.

MUBARAK Tests Post-Breakout Structure

Alpha Crypto analysis indicates that the market structure of MUBARA is technically sound after the breakout. It points out that the $0.022 area has been reclaimed, which had been the most significant area of resistance to upside attempts in the past.

That zone has turned out to be a support upon a clean retest. On the four-hour chart, Alpha Crypto indicates the presence of higher lows again, which suggests a prolonged demand in times of temporary drawbacks.

This trend will keep the downside risk small. A break below the support will undermine the bullish structure as long as this trend persists. The analysis indicates that MUBARAK has transitioned from the initial breakout stage to an after-breakout consolidation stage. This, in most cases, precedes continuation if buying pressure remains constant.

Source: X

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MUBARAK is Building Momentum After Breakout

The volatility indicators attest to the existing structure. Bollinger Bands have just started to expand after a period of compression. This growth usually causes a price direction. Currently, the price is within the upper half of the bands, indicating that buyers are holding on at a high price, and the top band has not yet repelled. Therefore, a sharp pullback will not be possible.

VWAP supports this view. MUBARAK is breaking out over the session VWAP, and prolonged trading over VWAP normally indicates continuation.

Bollinger Bands and VAWP. Source: TradingView

Structure Supports A $0.03 Upside

The bullish structure is in line with momentum indicators. The RSI is above 50, which shows that it is not oversold. The lows in the 60s show that there was an increase and not a drastic fall.

The Moving Average Convergence Divergence (MACD), which is applied to determine the trend, is above its signal line and indicates a positive histogram. These are the typical indicators of trend continuation.

Together, the MACD and the RSI indicate that momentum will remain constant and that there is a high probability of reaching the $0.03 zone.

MACD and RSI. Source: TradingView

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