$ME /USDT Technical Analysis & Trade Signals$
Current Overview
Price: $4.72
Trend: Bearish (-8.26% decline in 24h)
Support Levels: $4.60 (Key support zone)
Resistance Levels: $4.81 and $5.00
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Technical Analysis
1. Indicators Analysis
RSI: Below 30, indicating oversold conditions and a possible reversal or short-term consolidation.
MACD: Bearish crossover, suggesting continued selling pressure.
Moving Averages (MA):
50-MA: Positioned at $4.80, acting as resistance.
200-MA: Positioned at $5.10, signaling a longer-term bearish trend.
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2. Key Observations
The price is testing the $4.60 support zone.
If this level holds, a short-term bounce is possible.
A break below $4.60 could signal further downside toward $4.40 or lower.
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Trade Signals
1. Long Trade Setup (Reversal Play)
Entry: $4.65 - $4.70
Targets:
1. Target 1: $4.90
2. Target 2: $5.10
3. Target 3: $5.50
Stop-Loss: $4.50
Momentum: Weak to moderate (look for RSI divergence or volume spikes).
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2. Short Trade Setup (Breakout Play)
Entry: Below $4.60
Targets:
1. Target 1: $4.40
2. Target 2: $4.20
3. Target 3: $3.80
Stop-Loss: $4.75
Momentum: Strong if $4.60 support breaks with high selling volume.
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Trade Momentum Insights
Bullish Momentum Trigger: Price regains $4.81 with strong buying volume.
Bearish Momentum Trigger: Sustained break below $4.60 with increased selling pressure.
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Recommendation
Day Traders: Monitor $4.60 for a confirmed breakout or bounce before entering.
Swing Traders: Enter long cautiously if RSI shows divergence and price stabilizes above $4.60.
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