MORPHO, a decentralized lending platform on Ethereum, experienced a surge of up to 20% in its price despite a generally negative sentiment in the crypto market. This increase in price was accompanied by a rise in trading volume and came after Coinbase listed MORPHO on its exchange. However, technical indicators suggest a potential pullback in the altcoin's price. The majority of MORPHO tokens are held by large investors, and with the broader crypto market looking bearish, there is a risk of a sell-off. The altcoin is currently trading below the 50-day moving average and the Supertrend indicator remains above its price, indicating a continued bearish market. If MORPHO falls below the key psychological resistance level of $2, it may experience a bearish reversal. However, the possibility of a rally remains if market sentiment improves. At the time of writing, MORPHO's price has already declined slightly to $2.26.



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