$ME /USDT – Potential Rebound from Support
Current Price: $0.704
24h Range: Low $0.690 – High $0.724
24h Volume: 1.84M ME
Trade Setup (Long):
• Entry: Above $0.707 (Rebound confirmation)
• Target 1: $0.715
• Target 2: $0.724 (24h high)
• Stop Loss: $0.695
Analysis:
ME has shown a strong rebound from its recent low of $0.690, with a series of green candles indicating that buyers are stepping in to defend this support level. The price is currently trading around the moving averages, suggesting a period of consolidation after the dip. The 24-hour volume of 1.84M ME indicates continued market interest.
If ME can maintain its upward momentum and break above the resistance at $0.707, it could trigger a move toward the 24-hour high of $0.724.
A successful breakout above this level would signal a potential reversal of the short-term downtrend. Conversely, a drop back below the $0.695 support would weaken the bullish case and could lead to a retest of the $0.690 low. The current price action suggests a potential for a rebound, but traders should wait for a clear breakout confirmation to enter a long position.
