- $MUBARAK broke resistance after months of consolidation, and started a bullish trend.
- Price target is set at $0.08624, a potential 115% gain from breakout levels at $0.040.
- High futures volume and rising open interest are confirming active trading.
$MUBARAK surged past $0.040, with strong volume backing the move, the token aims for a breakout to $0.08624 target, signaling robust trader interest and a potential continued momentum ahead.
Descending Triangle Breakout Signals Bullish Shift
The daily chart for $MUBARAK/USDT shows a clear descending triangle pattern. Since March, the price moved between a falling resistance line and a rising support line. This formed pressure that led to a strong breakout above the resistance.
A large green candle marked the breakout, showing strong buying interest. The breakout happened near $0.040, which is now an important support level. If the rally continues, $MUBARAK could reach the next target at $0.08624 — more than double the breakout price. Buyers are stepping in as sellers slowly lose control after failed multiple attempts to push the price lower.
If the price holds the $0.040 , it could continue rallying, but if it falls below, the move might be a fakeout, leading to a pullback.
Volume and Trading Activity Support Momentum
Trading volume has also jumped as $MUBARAK’s price moves higher. In the past 24 hours, futures trading has been much higher than spot trading. This shows that many traders are betting on price moves using leverage, rather than buying and selling the token directly.
Open interest is at $22.46 million, though it’s slightly lower, it means some traders may be closing their positions due to price swings. At the same time, liquidation volume rose by nearly 25%, which means some leveraged traders were forced out of their trades as prices moved quickly.
Binance is leading with $93 million in futures volume, followed by OKX and Bybit. The long/short ratio is slightly in favor of short positions at 51.17%, suggesting some traders are still cautious even after the breakout.
Price and Market Cap Gains Confirms Rally
In the last week, $MUBARAK’s price jumped around 43%, rising from under $0.030 to nearly $0.043. The chart shows a clear pattern of higher highs and higher lows, which is a strong sign of steady buying.
The market cap also went up by over 40%, growing from less than $30 million to more than $43 million. This increase shows that real money is coming in, supporting the price move and proving it’s driven by strong interest — not just low-volume or fake pumps.
