MEME: Pay attention to the breakthrough of two key positions

In the analysis of MEME on November 27, it was mentioned that the price of MEME has entered the undervalued range, and small positions can be opened in batches for spot positions. MEME itself has no investment value at all. To put it bluntly, it is listed on Binance and has a certain degree of discussion. MEME's new coin mining in the Binance Launch Pool has ended recently. The chips distributed have also been sold by retail investors. Now it just depends on when it is ready to cause trouble. Combined with the recent on-chain data monitoring that the project party transferred more than 1 billion MEME coins, it is estimated that it is time. After all, the project side also needs to ship goods, and at least it must first stir up the excitement before it has enough liquidity to undertake its sell-off.

From a technical perspective, MEME pulled a wave shortly after being listed on Binance, and then began to fall from a high. The rebound after the decline began to be blocked only at the half point, and the trend was really too weak. A triangle pattern can be drawn based on the trend of MEME after falling from its high level. The current price has almost reached the end of the triangle. The main observation points are the strength of the breakthrough of the upper edge of the triangle pattern, and whether the Fibonacci position of 0.618 ($0.345) above it can stand firm. If the price breaks through $0.345 and stands firm, the target is still optimistic that it will continue to break the previous high.

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You can continue to open a spot position at the current price.