$MELANIA let’s dive into a deeper technical analysis of MELANIAUSDT based on your chart and data.

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🔍 Technical Indicators Breakdown:

📈 Price Action (Candlestick Pattern)

• A huge wick up to $0.4005 and immediate retracement shows rejection at higher levels — a typical bull trap or speculative spike.

• Price is now stabilizing around $0.3435, but the high volatility indicates uncertainty.

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📊 RSI (Relative Strength Index)

• While RSI isn’t directly visible on the chart, from the steep recent move, it’s likely RSI was overbought (>70) at the peak.

• With price dropping quickly, RSI is likely falling back into a neutral zone (40–60) — which signals indecision or the start of a correction.

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📉 MACD (Moving Average Convergence Divergence)

• Again, not visible on this image, but from the spike and fall, MACD likely shows:

• Recent bullish crossover (MACD line crossed above signal line).

• But momentum is probably weakening fast, possibly heading toward a bearish crossover soon.

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🔄 Volume

• 130.13M MELANIA and 45.84M USDT traded in 24h → very high volume.

• Spikes on high volume can mean climax buying — often a signal that the move is exhausted.

• If volume drops now, price may continue to fall as hype fades.

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🧱 Support & Resistance

• Support:

• $0.3143 (24h low)

• $0.2968 (previous consolidation area)

• Resistance:

• $0.3600–0.4000 (heavy sell zone)

• $0.3435–$0.3470 (current area)

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📉 Overall Technical Sentiment: Short-Term Bearish / Caution

⚠️ If You’re Holding:

• Consider tight stop-loss just below $0.3140 if you’re long.

• If you’re in profit from the pump, this might be a good point to secure gains.

🧠 If You’re Looking to Enter:

• Don’t FOMO in now — wait for:

• Retest and hold of $0.31–$0.32 support

• Or confirmation of another breakout above $0.36 with volume