Solana-based meme coin MEW has experienced a notable 21% price surge subsequent to its major listing on Bithumb.
The Cat In A Dogs World price analysis indicates MEW is gearing up for a bullish rally, exhibiting signs of a trend reversal.
Following the breach of the bullish pennant pattern, the price appears poised to retest recent highs.
Notably, MEW's price currently trades above both the 50 and 200 simple moving averages, with the moving average cross further bolstering bullish sentiment.
According to Coin Gabbar analysis, In an ideal scenario, continued bullish momentum above the pennant pattern could spark a rally, aiming to reclaim the all-time high at $0.009300.
Conversely, failure by bulls to surpass recent highs may prompt a pullback, potentially leading to a test of the channel trendline.
KEY LEVELS :
RESISTANCE LEVEL : $0.006500-$0.009300
SUPPORT LEVEL : $0.004000-$0.002800
Disclaimer: Coingabbar's guidance and chart analysis on cryptocurrencies, NFTs, or any other decentralized investments is for informational purposes only. None of it is financial advice. Users are strongly advised to conduct their research, exercise judgment, and be aware of the inherent risks associated with any financial instruments. Coingabbar is not liable for any financial losses. Cryptocurrency and NFT markets could be highly volatile; users should consult financial professionals and assess their risk tolerance before investing.
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