Not a standard German adjective. This is the noun 'die Moderation' (moderation/facilitation). In rare, usually incorrect contexts or contexts influenced by English, it might be used adjectivally in the sense of 'moderat' (moderate) or 'marked by moderation.'
example
Seine Herangehensweise war sehr Moderation und auf Ausgleich bedacht.
His approach was very moderation and focused on compromise.
Usage tips
Common mistake
Using 'Moderation' as an adjective is not correct in standard German. It is a noun: 'die Moderation' (moderation/facilitation). Adjectival use is a common mistake that may arise from the influence of English.
EXAMPLE
Die Moderation der Veranstaltung war sehr professionell.
The moderation of the event was very professional.
Word family
To avoid confusion, it helps to know the word family. 'Die Moderation' (moderation/facilitation) is the activity, 'moderieren' (to moderate/facilitate) is the corresponding verb, and 'der Moderator' (male moderator/host) or 'die Moderatorin' (female moderator/host) is the person who moderates.
EXAMPLE
Wer wird die Podiumsdiskussion moderieren?
Who will moderate the panel discussion?
Register and style
If you hear or read 'Moderation' used as an adjective, it is a nonstandard, colloquial, or incorrect formulation. You should avoid this use in formal or written texts.
EXAMPLE
Die Chefin bat um eine gute Moderation des schwierigen Meetings.
The boss asked for good facilitation of the difficult meeting.
Compare with
antonym
Moderation vs extrem
extreme
'extrem' stands for something very strong or not moderate. 'die Moderation', however, is normally not an adjective, but a noun, for example for hosting a show or facilitating a conversation. As the opposite of 'extrem', what is really meant is more likely 'moderat' or 'mäßig'. If 'Moderation' is rarely meant adjectivally or in an English-influenced way, it is about moderation. For German learners, the important point is: in normal German, you do not say 'eine moderation Lösung', but 'eine moderate Lösung' (a moderate solution).
Moderation
Im Kurs übernimmt die Fahrerin heute die Moderation der Diskussion.
In the course, the driver is taking over the facilitation of the discussion today.
extrem
Wir vermeiden extreme Entscheidungen, weil sie für die Familie schwer sind.
We avoid extreme decisions because they are difficult for the family.