Technical Analysis and trading signal for
$ME /USDT🚀🔥💯💯💯
Current Price: $3.831
Trend Analysis:
The price is currently within a mild downtrend as it shows a slight drop of 1.08% in the past 24 hours.
The 24h High and 24h Low suggest some level of consolidation between $3.730 and $3.954.
Support & Resistance Levels:
Support Level 1: $3.730 (Recent 24h low)
Support Level 2: $3.614 (Depth suggests this could be a key level for support)
Resistance Level 1: $3.954 (24h High)
Resistance Level 2: $4.00 (Psychological resistance, considering current trend)
Moving Averages:
The Short-term (15m, 1h) trend seems neutral to bearish based on price fluctuations.
The Medium-term (4h, 1D) suggests potential for a bounce if support holds near $3.730.
RSI (Relative Strength Index):
The RSI is likely neutral, hovering around 50. A value above 50 would indicate more bullish momentum, while below 50 suggests bearish pressure.
MACD:
The MACD is showing a possible bearish cross near the current price, indicating more selling pressure unless a reversal occurs.
Trade Signal:
Entry Point:
Consider entering near $3.730, around the key support level, if price shows signs of stabilization or bounce.
Target Levels:
1. Target 1: $3.954 – 24h High (Immediate short-term resistance)
2. Target 2: $4.00 – Psychological resistance
3. Target 3: $4.20 – Next key resistance zone (if bullish trend continues)
Stop Loss:
Set stop loss just below $3.730 at $3.70 to manage risk if price breaks the support.
Trade Momentum:
Bearish Momentum: If price fails to break $3.954, further downside towards $3.614 could be possible.
Bullish Momentum: A strong breakout above $3.954 could propel the price to $4.00 and higher.
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