Morpho Proceeds Towards Higher Price Mark

The MORPHO/USDT market currently holds a price increase of roughly 9%. This has placed the coin as the second most profitable asset as of the time of writing. The token’s price activity also suggests that more gains may be seen in this market.

MORPHO Market Statistics

Current Price: $2.1040

Market Capitalization: $653.57M

Circulating Supply: 338.8M

Total Supply: 1B

CoinMarketCap Rank: 113

Key Price Levels

Resistance: $2.500, $3.000, $3.500

Support: $2.100, $1.600, $1.100

MORPHO/USDT Market Extends the Latest Bounce

Price action in the Morpho daily market recently rebounded off support near the $1.800 price level. The market subsequently proceeded upward and now trades above the 9-day Exponential Moving Average (EMA) line. The ongoing session remains green and holds sizeable gains above the 9-day EMA curve.

At the same time, the lines of the Stochastic Relative Strength Index (SRSI) indicator retain a sharp upward trajectory. The lead line has just crossed above the 80 mark, while the lagging line remains below and has just broken through the 50 level. This suggests notable volatility and a possible continued upward movement of prices in the market.

Morpho Bulls Stay in the Lead

Price activity in the MORPHO/USDT market has been able to sustain its bullish momentum. As a result, even on shorter market time frames, upside forces appear to be persisting. The last price candle on this chart remains green and is positioned well above the 9-day EMA curve.

However, a downward contraction is visible in the most recent price candle, yet it still retains notable gains. Its position above the 9-day EMA line also brightens the market outlook. The SRSI indicator lines have just delivered an upward crossover at the 80 mark, and the ensuing lines remain oriented upward. As such, this market may edge toward the $2.500 price level.

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