will it ever go to above 5?

#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.

#CryptoTrading #MelaniaTrade