DISCLAIMER: I want to say ahead that Moons are traded on MEXC & Gate.io on really low volume compared to other crypto. It has a tiny market cap so predicting / analyzing becomes nearly impossible since whale movement can easily drive the price. But let's just act like it's one of the top cryptos and have some fun.

correlation to Bitcoin / Ethereum

https://preview.redd.it/cxzvn8x0c2q91.png?3838&format=png&auto=webp&s=651ee2759c0bf4f01cd7c342c6f48efef27c48e1

Conclusion: Moons seem to not care that much about Bitcoin and general markets. I've been paying close attention to moons reacting when Bitcoin dumps or pumps and usually there is no significant movement visible. So you could technically assume the general sentiment, that hasn't changed for Crypto, is affecting it. Without a bullish rally or capitulation moons just don't care.

Now let's talk about the beautiful lines/art on the moon chart


Red Area is the resistance. That's usually where high sell pressure is applied. Clearly visible by the followed downtrends everytime it peaked. I strongly believe the initial pump after the first hit of lows was caused by FOMO, attention on both exchanges due fast increase in value + karma multiplier. ( People buying back their stack to hit karma multiplier numbers scared of getting forced buying higher ) Additionally I have to say that whales haven't sold yet. That's either a good sign for less sell pressure at these levels or a potential upcoming more sell pressure forcing into new lows / new ressitance area.

Green Area is the support. That's usually were in the past moons were bought. Especially towards the 0.08$ range you can see strong support buying up dumped bags. Those that bought at that level especially during big volume might wait again until it hits those numbers. Great news is that it might be the lowest moons can get for now which is HUGE consider it's been -70% from here since last bottom.

The arrow at the end is the potential upcoming price movement. Moons have been holding strong the 0.1-0.15$ range but the decline and sell pressure continues. The Volume also declined heavily after 0.08$ which might be related to the gate.io listing but also lack of interest. One reason could be that moons are too expensive for people to accumulate and buy at current times with these prices. Same goes for people not willing to sell hoping for higher prices.

I believe at current macro economic times and with the listing news cooling off moons might re-test lows again. Especially with the upcoming Distribution there might be even more sell pressure applied. Smart Money will probably sell ahead to avoid slippage on low buy volume when that day comes and then proceed to buy back at support level.

Something I want to add: Spot trading is different then Future trading. Especially on low volume.Future trading are where the big gambles happen. Where "dumb money" uses high leverage getting liquidated. High liquidity, fast trades on low fee.

Spot traders are usually looking for a longer period of time. They are willing to wait for a longer period of time to accumulate or sell off parts of their bag. Don't expect super fast sudden price movement with moons. Beside whale moves on low volume we probably have to wait for a start of a bullrun until things become more interesting and hit higher numbers.

As always - no financial advice. I'm just a degenerate day trader doing this for fun. I could be entirely wrong especially since it's a low market cap coin. Still having fun enjoying talk about the first huge step with mainnet of moons being traded on exchanges !