🛑 Attention, traders! 🛑 Melania (MELANIA/USDT) is putting on a show. It has jumped +9.58% and stands at $0.3615! The volume is heating up, and that's always a good sign of interest.
If we look at the 15-minute chart, we see that it has broken the MA(7) and the MA(25), and is dangerously close to the MA(99) at $0.3372. Watch out for that level! It seems there is a small resistance at $0.3685, but if it breaks through, we could be on our way to $0.4005, which was marked as the maximum in the last 24 hours.
The Long/Short average shows us that most accounts are in long, which reinforces the bullish sentiment. However, there is an interesting volume of recent 'sell taker', which raises an eyebrow. Is it profit-taking or an attempt at manipulation to scare off newcomers? Patience is key here!
If the bulls maintain pressure and manage to break the resistance at $0.3685, the next target could be the previous maximum. But if it fails to consolidate above and the selling volume increases, we could see a pullback to seek support. HODL wisely and manage that risk!
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