Morpho Price Rallies 8% Amid Coinbase Spot Listing – What Is Next For MORPHO?

 Morpho’s price sees an 8% rally to $2.18 amid Coinbase support, with potential for further gains if it breaks the $2.30 resistance level!
Despite the wobbling crypto market, Morpho’s price boasts a splendid bullish muscle, having rallied 8% to $2.28. The recent spike comes amid Coinbase adding support for Morpho (MORPHO) on the Ethereum (ERC-20 token) and Base networks. Further, once a sufficient supply of Morpho is established, the MORPHO-USD trading pair will launch in phases on the exchange. However, support for MORPHO may be restricted in some supported jurisdictions. With these developments shaping the Morpho market, could they drive MORPHO beyond $2.30?

<blockquote class=”twitter-tweet”><p lang=”en” dir=”ltr”><a href=”https://twitter.com/search?q=%24MORPHO&amp;src=ctag&amp;ref_src=twsrc%5Etfw”>$MORPHO</a> listed on <a href=”https://twitter.com/coinbase?ref_src=twsrc%5Etfw”>@coinbase</a> spot <a href=”https://t.co/WEhwbtKVPs”>https://t.co/WEhwbtKVPs</a></p>&mdash; New Listings Feed (@NewListingsFeed) <a href=”https://twitter.com/NewListingsFeed/status/1894792553729286644?ref_src=twsrc%5Etfw”>February 26, 2025</a></blockquote> <script async src=”https://platform.twitter.com/widgets.js” charset=”utf-8″></script>

Morpho Price Outlook

Morpho price is currently exchanging hands at $2.18, reflecting a modest gain of 8% for the day, according to CoinMarket cap, despite the prevailing market volatility. The RSI at 54 indicates intense buying pressure with potential room for the upside. Its position above the 50-mean level hints at a potential upward trajectory if the buying pressure intensifies. 

Key resistance levels can be identified at $2.30, which aligns with the 200-day MA. If Morpho’s price manages to breach this level, it could pave the way for a substantial leg upward. Conversely, a failure to maintain its current position may result in the price retesting critical support levels at 2.13, aligning with the 50-day MA. 

Can Morpho Price Rally Above $2.30 Resistance Key?

Should market momentum improve in favor of morpho price, a rally toward $2.44 is likely, possibly extending toward $2.80 if momentum builds. Recently, Morpho price has been showing signs of renewed strength, and if bullish momentum continues to build, the token could attempt to retest the $2.30 resistance key. Overcoming key resistance levels will be crucial, as this could indicate that a successful push above these barriers could trigger a stronger rally. However, sustaining this momentum will depend on broader market sentiment.

On the flip side, the bearish flag pattern hints at a deeper correction if the support levels don’t hold. If bears enter the market at this level, Morpho’s price might be under duress, sliding toward the $2.13 region or lower. Traders should carefully observe volume trends and broader market cues to navigate this highly volatile phase. 

Graph 1- provided by Emmaculate on TradingView on Feb 28, 2025

Technical Indicators Hint at a Possible Upside

A closer look at the RSI Indicator reading at 54 reflects a neutral-to-bullish outlook, indicating room for upward momentum should bullish sentiment dominate. However, failing to maintain current levels above the $2.18 zone might trigger price correction as the RSI remains susceptible to bearish divergence under downward price pressure. Meanwhile, the Moving Average Convergence Divergence (MACD) upholds a buy signal. This is evident as the blue MACD line (0.0342) has crossed above the orange signal line (0.0161), calling for traders to rally behind Morpho.

On the other hand, on-chain metrics further support a potential upward trajectory in the Morpho market. The spike in open interest by 10% to $38.64M and the trading volume by 138% to $166.22 million suggest increased market activity, according to Coinglass data. This notably suggests that new money is flowing into the market and may trigger a rally to $2.80 in the near term, breaching the $2.30 barrier. In the meantime, market participants should closely monitor price action near the $2.30 zone. A decisive breakout could herald a continuation of Morpho’s broader uptrend, while a lack of momentum might signify a pause or potential reversal below support zones.