Morpho’s MORPHO token has surged 11% to over $1.75 as daily trading volume rose 33%, pushing its market capitalization near $665 million. The rally is supported by a shift in on-chain and derivatives metrics, including a bullish double bottom pattern and increased spot buying aggression. Traders are now watching the $1.80 resistance level to determine if the momentum signals a sustainable trend reversal or a temporary rebound.
The Morpho token extended its rally above $1.75 as daily volume jumped 33%, signaling renewed speculative interest. Price climbed 11.15% in 24 hours while market capitalization approached $665 million, reflecting strong participation.
A clear double bottom formed near $1.07, and price has since broken above the neckline to reclaim $1.42 as support. This structural shift signals bulls have regained short-term control, with the next decisive barrier at the $1.80 resistance zone.
The RSI has climbed to 69.87, approaching overbought territory, which suggests rising enthusiasm. Parabolic SAR dots have flipped beneath the price, reinforcing a trend continuation bias.
The 90-day Spot Taker CVD has flipped decisively into Taker Buy dominance, confirming aggressive buyers are absorbing liquidity. This behavior often accompanies structural reversals rather than temporary bounces.
The OI-Weighted Funding Rate has turned positive at 0.0025%, signaling leveraged longs are rebuilding positions. This controlled reading indicates positioning has expanded cautiously rather than aggressively.
Collectively, these developments indicate improving market structure. If buyers sustain dominance above $1.80, continuation toward $2.20 appears technically supported.
