MORPHO Bounces 10% and Casually Winks at That Pesky $2.00 Ceiling 👀

Morpho's [MORPHO] token rallied 10% over 24 hours to $1.93 at press time, extending a recovery from the $1.647 support level and drawing renewed buying interest as trading activity expanded. Spot volume climbed 65.3% to $34.51 million alongside the move, signaling a return of market participation after several sessions of weakness and pushing the price toward the closely watched $2.07 resistance zone beneath the psychological $2.00 mark.

Order-flow data reflected a more balanced backdrop. The 90-day Spot Taker CVD moved away from earlier seller-dominant readings and approached neutrality, indicating that aggressive selling pressure seen during prior declines had eased. This shift allowed MORPHO's rebound to develop without the order-flow resistance that constrained earlier rallies, with two-way trading creating a more liquid environment for price discovery.

Technical indicators pointed to a constructive but unconfirmed recovery. The Relative Strength Index climbed from near-oversold territory to 49.24, while its moving average stood at 45.99, suggesting that bearish pressure weakened during the latest advance. RSI remained below the bullish threshold of 50, leaving buyers in need of further strength to validate a broader trend reversal. A clean break above $2.07 would expose the next major resistance at $2.413, while a failure to clear that level could invite a retest of lower support zones.

Derivatives positioning showed signs of stabilization rather than a full bullish turn. MORPHO's OI-Weighted Funding Rate held at -0.0013% as of writing, indicating that short positions retained a slight edge. The reading nevertheless marked a notable improvement from the deeply negative levels recorded earlier in June, consistent with easing short-side conviction as price recovered toward resistance.