$MET ☄️
$MET /USDT: Solana’s Liquidity Engine Consolidating for a Move! 🚀
The Meteora (
$MET ) chart is showing a period of consolidation following its strong monthly performance, positioning it as a key asset to watch in the Solana DeFi ecosystem.
📊 Technical Analysis
* Current Price: $0.271 (essentially flat in the last 24h).
* Trend: Bullish Consolidation. While the short-term 4H trend shows some bearish pressure with the 50-day moving average sloping down, the 200-day moving average has been sloping up since mid-January, indicating long-term strength.
* RSI (14): 36.05 (Near Oversold). The RSI is currently in a weak zone, suggesting a pause in selling pressure as the token builds support after its 11% gain over the last 30 days.
* Support: $0.247 (Lower Bollinger Band) and $0.251 (Pivot Point).
* Resistance: $0.274 (Immediate hurdle) and $0.288 (Upper Bollinger Band).
🎯 Trade Strategy
* 🟢 Entry Zone: $0.255 – $0.268 (Looking for accumulation near the pivot point or middle Bollinger band).
* 🎯 Target 1: $0.285 (Testing the upper resistance range).
* 🎯 Target 2: $0.320 (Projected upside if the daily bullish trend resumes).
* 🛑 Stop Loss: Below $0.240 (To exit if the lower support band fails).
💡 Summary for Square
"The 'Liquidity Engine' of Solana is catching its breath! 💨
$MET is currently consolidating after outperforming the broader market's recent dip. With major DLMM upgrades expected this quarter and a $10M buyback program providing a potential floor, the fundamentals remain rock solid despite short-term macro fear. Watch for a volume-backed breakout above $0.274 to confirm the next leg up! 🐢🔥"
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