#MELANIA /USDT: Critical Downtrend Hits Record Lows – Will It Recover? #MELANIA is trading at $2.87, facing a staggering 27.37% drop over the past 24 hours. With a low of $2.767, the price is nearing critical oversold territory, as indicated by the RSI of 10.58, suggesting a potential short-term bounce.
Key Levels to Watch
Resistance Levels:
$3.10 – First recovery target.
$3.50 – Major breakout level for trend reversal.
Support Levels:
$2.75 – Immediate critical support.
$2.50 – Key safety net if the downtrend continues.
Trade Setup
Long Entry: Above $3.10
Targets:
1. $3.50
2. $3.75
Stop Loss: Below $2.75
Short Entry: Below $2.75
Targets:
1. $2.50
2. $2.30
Stop Loss: Above $3.10
Technical Indicators
RSI: At an extreme 10.58, signaling heavily oversold conditions, hinting at a possible relief rally.
MACD: Bearish crossover with declining momentum.
Market Insight
MELANIA’s sharp decline reflects selling pressure and panic exits. However, such oversold conditions often attract opportunistic buyers for a short-term rebound. Keep an eye on volume and the $2.75 support zone to gauge the next move.
