🚨The $MEME /USDT chart shows a strong upward trend 🚀,

the price currently at $0.01446, up 17.37% for the day. The Relative Strength Index (RSI) sits at 78.98, indicating an overbought condition. With a 24-hour high of $0.01566 and a low of $0.01204, the price has experienced substantial volatility. For short traders, this overbought level may signal a potential reversal in the near term, as profit-taking could occur. A retracement toward support levels around $0.01393 or lower could be possible if selling pressure increases. Monitoring the RSI for any signs of divergence or a drop below 70 could confirm a short-selling opportunity. However, caution is advised given the recent bullish momentum.

Long Trade Analysis

For long trades, the current momentum could signal continued upward movement, especially if the price consolidates above $0.01446. The increase in trading volume (14.28M $MEME ) supports the bullish trend, indicating strong interest from buyers. If the price breaks above the recent high of $0.01618, it could signify a continuation of the upward trend. Long traders should watch for the price to hold above key support levels like $0.01393 and for a potential dip-buying opportunity. If the RSI remains elevated, a minor correction could provide a favorable entry for long positions before the next leg up.