$MGO hovering around 0.0188 after a steady intraday grind higher. Market cap sits near 30M while FDV stretches toward 188M — that supply overhang is something traders shouldn’t ignore. Short term, price is compressing between 0.0183 support and 0.0198 resistance.
If bulls flip 0.0202 with strong volume, momentum could accelerate into a quick breakout leg. But failure to hold 0.0183 likely invites a liquidity sweep before any sustained move.
On-chain holder count above 107K shows attention is there — now it needs sustained demand. I’m watching structure, not hype.