$ME /USDT Breaking Resistance โ Bulls Eyeing New Highs๐ฅ๐๐ฅ
Market Outlook ๐
$ME has successfully broken key resistance at $1.16, supported by a bullish BOS (Break of Structure) confirmation on the 1D chart. This breakout aligns with strong momentum seen on the 1H chart, where price broke out cleanly from a demand zone and formed higher highs.
However, price is now entering a heavy supply zone up to $1.40, which may act as temporary resistance.
Formed Candle & Trend Signals:๐
1H Chart: Healthy retracement after breakout, finding support near $1.13 ๐ข
1D Chart: First strong BOS above $1.00 confirms higher timeframe reversal trend ๐
Stochastic RSI (Both Timeframes): Mid-range at 35โ36 โ indicating room for continuation
Trade Strategy (Buy Side Focus):๐ฅ
Entry (Dip Buy): Around $1.13โ$1.09 (support zone retest)โ
Target 1: $1.25๐ฏ
Target 2: $1.40๐ฏ
Stop Loss: Below $1.03โฃ๏ธ
Risk-Reward Ratio: 1:2+ depending on entry
Pro Tip:๐งโ๐ป
Wait for retest of breakout or minor pullback. If $1.16 holds as new support, continuation toward $1.40 is likely. Confirmation = stronger conviction.
Traderโs Takeaway:๐จโโค๏ธโ๐จ
โSmart entries happen when hype cools down โ let price breathe, then strike.โ
Disclaimer:โ ๏ธ
This analysis is for educational use only. Always do your own research before trading. Crypto markets are highly volatile.