Will $MELANIA Rebound from $1 to $11? A Reality Check on Its Potential
The road ahead for $MELANIA seems uncertain after its dramatic drop from $11 to $1, leaving many investors wondering if it can ever recover and reach its previous highs. While meme coins are known for their unpredictable price surges, reaching $11 again would require a significant surge in market capitalization, potentially placing $MELANIA among the top cryptocurrencies. However, such a rally would depend on several factors, including exchange listings, whale activity, and sustained hype – all of which are speculative at this stage.
Current Price Action and Market Sentiment
Currently, $MELANIA/USDT is trading at $1.308, down 1.95% over the past 24 hours. Despite some attempts to stabilize, the token continues to face challenges, with resistance at $1.349 holding back further gains. On the downside, $1.291 serves as an important support level. The market sentiment remains cautious, with low trading volume suggesting indecision among traders.
Key Levels to Monitor
Support: $1.290 – If this level fails to hold, we could see additional downward pressure.
Resistance: $1.350 – A breakout above this level could trigger a recovery phase.
Potential Trade Opportunities
Long Entry: If $MELANIA breaks above $1.320, it may indicate the start of a bullish reversal, with targets of $1.380, $1.450, and $1.520. A stop loss should be set at $1.280 to manage risk.
Short Entry: Should $1.290 fail as support, consider a short position with targets at $1.250, $1.200, and $1.150, while setting a stop loss at $1.330.
Market Outlook
For $MELANIA to regain its strength and potentially move higher, we need to see a surge in trading volume and a clear shift in momentum. A break above $1.350 could indicate that the tide is turning, but failure to hold $1.290 would likely signal further declines. While the potential for a rebound exists, the path forward remains highly uncertain, and investors should proceed with caution.