#BinanceAlphaAlert $MEW
♨️♨️Technical Observations:♨️♨️
1. Current Price: 0.002328
Price is sitting right at an ascending support trendline (marked in blue), showing buyers are stepping in on higher lows.
2. Resistance Zones:
Immediate resistance: Around 0.002619 (blue horizontal line).
Major resistance: 0.002725 (red horizontal line). This is a strong supply zone where price has previously rejected multiple times.
3. Volume Profile (right side bars):
High volume node around 0.0026 – 0.0027, suggesting heavy trading in this zone — possibly hard to break unless with strong momentum.
4. RSI (Relative Strength Index):
RSI is neutral, neither oversold nor overbought, suggesting room for movement in either direction.
5. Trend Structure:
Price is forming an ascending triangle, typically a bullish continuation pattern if it breaks upward.
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Trade Idea & Confirmation
LONG Setup (High Probability If Confirmed):
Entry: Only on strong breakout and close above 0.002725 (red line) with good volume.
Target 1: 0.0030
Target 2: 0.0035
Stop-loss: Below the ascending trendline (around 0.00222 or lower).
Confirmation Needed: Break and close above 0.002725 on 4H chart.
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SHORT Setup (Low Probability Right Now):
Only if the ascending trendline breaks downward with volume.
Entry: Below 0.00222 with breakdown candle.
Target: 0.00200
Stop-loss: Above 0.00235
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Final Verdict:
Wait and Watch.
No confirmed entry yet.
Favoring long setup if breakout happens above 0.002725 with good volume.
