Step 1: Understand the meaning of "MODERATE".
The word \textit{moderate} refers to something that is neither extreme nor excessive; it is within reasonable limits or average in nature.
Step 2: Find the antonym.
EXCESSIVE means extreme, more than what is necessary, or over-the-top. It is the opposite of moderate.
LIMITED refers to being restricted or constrained, but it is not a strong opposite of moderate.
REASONABLE means fair or sensible, which is similar to moderate, but not opposite.
LENIENT means permissive or not strict, which is different from the concept of moderate, but not an exact opposite.
Step 3: Conclusion.
The correct antonym of \textit{moderate} is \textit{excessive} because it represents the extreme or over-the-top, which is directly opposite to being moderate.