$MEME TECHNICAL ANALYSIS: BULLISH REVERSAL AND CONTINUATION
Short Outlook of Market
The MEME chart on the 1D timeframe shows a clear shift from a strong downtrend (indicated by the steep MA(99) line) to a potential near-term uptrend. The price has recently moved significantly above the short-term MA(7) and mid-term MA(25) lines, which are starting to turn upwards. This is a classic indication of momentum shifting from bearish to bullish. The crossover of the MA(7) above the MA(25) acts as a bullish signal (short-term momentum exceeding mid-term). Increased recent volume on the upward move further validates the momentum and suggests strong buying pressure entering the market, confirming the bullish reversal.
Long Trade Signal
Trade Setup
* Long Entry (Buy): Enter a long position on a slight pullback to the recent breakout level or to the MA(7), which may now act as support.
* Entry Price (Approx.): \mathbf{0.0042} (Near MA(7) at \mathbf{0.004133})
* TP1 (Target 1): Based on the next key resistance/psychological level.
* Price: \mathbf{0.0055} (Above the recent high and near the MA(99) prior to the steep drop)
* TP2 (Target 2): Targeting the long-term MA(99) value as a major resistance test.
* Price: \mathbf{0.0075} (Just below the next major MA on the chart: \mathbf{0.0075398})
* SL (Stop Loss): Placed below the mid-term MA(25) to protect against trend invalidation.
* Price: \mathbf{0.0031} (Below MA(25) at \mathbf{0.0033144})
#MEME #CryptoTrading #TechnicalAnalysis #Bullish #MovingAverages
