$MGO is trading around $0.02690, up +1.94%, holding steady after a sharp volatility spike. On the 15-minute chart, price briefly swept liquidity toward the $0.0295–$0.0300 zone and quickly rejected, showing strong selling pressure at higher levels. Despite that, structure remains constructive as buyers defended the $0.0262–$0.0264 support area.
We’re seeing a higher low formation with price now consolidating just below the minor resistance at $0.0272. Acceptance above this level could open the door for a continuation move toward $0.0285 and then $0.0295.
Key support is $0.0262. As long as this holds, the bias stays neutral-to-bullish. A breakdown below it would invalidate the short-term structure and expose $0.0255.
Clean setup:
Entry: $0.0266 – $0.0269
Targets: $0.0285 / $0.0295
Stop-loss: Below $0.0261
Price action favors patience and confirmation rather than chasing volatility.
