Moonbirds NFT: Bobby Ong's Bullish Case for the Undervalued Comeback Trade in Crypto Markets

In the ever-evolving world of NFTs and cryptocurrency trading, prominent analyst Bobby Ong has once again voiced his strong bullish sentiment on Moonbirds, labeling it as the most undervalued NFT and the potential comeback trade of the year. Drawing from historical peaks, Ong compares Moonbirds to established projects like Bored Ape Yacht Club (BAYC), which reached a high of 150 ETH equivalent to about $420,000, and Pudgy Penguins, peaking at 35 ETH or roughly $137,000. As of his statement on August 20, 2025, Moonbirds' current floor price hovers significantly lower, presenting what Ong sees as a prime opportunity for traders eyeing asymmetric returns in the NFT sector. This perspective aligns with broader crypto market trends where undervalued assets often rebound during bull cycles, especially as Ethereum (ETH) price fluctuations directly impact NFT valuations. Traders should monitor ETH/USD pairs closely, as a surge in ETH could propel Moonbirds' floor price upward, offering entry points around current levels for those betting on a revival.

Delving deeper into the trading analysis, Moonbirds' price history reveals a pattern of volatility typical in NFT markets. From its launch in April 2022, the collection saw an initial hype-driven spike, with floor prices exceeding 30 ETH before correcting amid the 2022 bear market. Recent data shows trading volume picking up, with over 100 ETH in sales volume in the past week as of late August 2025, according to verified on-chain metrics from platforms like OpenSea. This uptick correlates with positive sentiment in the broader crypto space, where Bitcoin (BTC) has stabilized above $60,000 and ETH trades around $2,600, reflecting a 5% 24-hour gain as of the latest market close. For traders, key support levels for Moonbirds sit at 2.5 ETH, with resistance at 5 ETH; breaking above this could signal a bullish reversal, potentially mirroring BAYC's recovery trajectory post-2022 lows. Institutional interest in NFTs, evidenced by increased wallet activity from large holders, further supports Ong's thesis, suggesting potential for 3x to 5x gains if market conditions favor risk-on assets.

Cross-Market Correlations and Trading Strategies for Moonbirds

From a cross-market perspective, Moonbirds' performance ties closely to stock market dynamics, particularly tech-heavy indices like the Nasdaq, which influence crypto sentiment through AI and blockchain integrations. As AI-driven projects gain traction, NFTs like Moonbirds could benefit from narratives around digital collectibles and metaverse expansions, creating trading opportunities in related tokens such as APE (from BAYC ecosystem) or even broader ETH-based pairs. Traders might consider hedging strategies, pairing long positions in Moonbirds with ETH futures on exchanges like Binance, where ETH/BTC ratio analysis shows ETH underperforming but poised for a catch-up rally. On-chain data indicates a 15% increase in unique holders over the past month, timestamped to August 15, 2025, pointing to growing community engagement that could drive liquidity and price appreciation. However, risks remain, including regulatory pressures on NFTs and potential ETH sell-offs if stock markets correct, emphasizing the need for stop-loss orders at 10% below entry points.

Looking ahead, Ong's endorsement could catalyze short-term momentum, with trading volumes expected to surge if social media buzz amplifies. For optimized trading, focus on indicators like RSI (currently at 55, neutral but trending up) and MACD crossovers on ETH charts, which often precede NFT rallies. In summary, while many dismiss Moonbirds as a faded project, its undervalued status relative to peers positions it as a high-reward play for patient traders, especially in a recovering crypto market. With ETH's 24-hour trading volume exceeding $10 billion as of August 20, 2025, the stage is set for potential upside, making this a watchlist essential for NFT and crypto enthusiasts seeking the next big comeback story.