๐ Technical Analysis: $ME /USDT (15-Minute Chart)
๐ Current Price: 1.055 USDT
๐ 24h Change: +25.74%
๐ Volume (USDT): 65M
๐ Volume (ME): 61.67M
๐ Chart Insights:
โ Bullish Momentum Observed
After a strong bullish candle from the 0.985 level, price surged to a high of 1.164 before a corrective pullback. The current support seems to have formed around 1.00 USDT, while resistance is near 1.17 USDT (24h high).
๐ Moving Averages:
MA(7): 1.044 โ Short-term trend turning positive again.
MA(25): 1.055 โ Price hovering near mid-term average; potential consolidation.
MA(99): 0.949 โ Long-term support still holding well below current price.
๐ Volume Spike: Significant volume was observed during the breakout from 0.985 to 1.164, indicating strong buyer interest. However, volume has cooled slightly, suggesting a period of accumulation or consolidation.
๐ฎ Whatโs Next?
If ME/USDT sustains above the 1.05 level, and breaks above 1.11 with volume, we could see a retest of the 1.17 resistance. Failure to hold 1.00 may result in a pullback toward the MA(99) near 0.95.
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๐ Trading Tip: Watch closely how the price reacts around the MA(25). A bullish crossover and volume breakout could offer a short-term trade opportunity.