📊 **Technical Analysis: MEW/USDT Perpetual Contract on Binance (Daily Chart)**
🔍 **Current Situation:**
- The price of MEW/USDT is consolidating after a recent downtrend, with key resistance around **0.0046 USDT** and support near **0.0043 USDT**.
- We’ve seen a few bullish signals, but the recent volume suggests a lack of momentum to push the price significantly higher.
📈 **Volume Analysis:**
- Previous bullish moves were accompanied by high volume, indicating strong buyer interest.- However, current volume levels are lower, pointing to market indecision. Traders should watch for an increase in volume as a potential sign of a breakout.🔮 **Potential Scenarios:**
1. **Bullish Breakout:** If the price breaks above 0.0046 USDT with increased volume, it could signal a continuation of the uptrend.
2. **Bearish Reversal:** If the price fails to break resistance and volume remains low, we could see a move toward lower support levels.
💡 **Strategy:**
Wait for a confirmed breakout with strong volume before entering a long position. Alternatively, if the price shows weakness at resistance, a short position may be considered with a target around support levels.
Analysis by @ANAS_ABDENAJI