The MEME coin is currently trading at 0.004481 USD, achieving a strong rebound compared to the previous decline. This level reflects a return of buying liquidity and trader interest after a correction and short-term profit-taking.
Technical indicators:
Moving averages: The price has returned to trading above its short-term averages, signaling a restoration of upward momentum.
RSI: Moving in a zone close to neutral, away from overbought or oversold, allowing for broader moves in both directions.
MACD: Has started to show a positive crossover, which enhances the likelihood of continued upward movement if the price maintains its current levels.
Support and resistance levels:
First support: at 0.00420 USD; maintaining it means traders are in control of the scene.
Second support: near 0.00390 USD. Breaking this may indicate temporary weakness and increase the likelihood of a correction.
First resistance: at 0.00470 USD; breaking this will push the price towards new peaks.
Second resistance: at 0.00500 USD, an important psychological barrier. Crossing this may open the door to a larger surge.
The expectations of the price returning to 0.004481 USD after the recent decline signal the currency's resilience and continued risk appetite from traders. As long as the price remains above the support of 0.00420 USD, the short-term outlook remains positive with a chance to test resistance at 0.00470 – 0.00500 USD in the coming sessions. However, losing support may push the market to re-test levels of 0.00390 USD.
Recommendation🔥
Buying area between 0.00440 – 0.00445 USD with good risk management.
First target 0.00470 USD
Second target 0.00500 USD
Stop-loss below 0.00390 USD to avoid any sudden downward reversal.
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