Current Overview:
Current Price: $3.131
24h Change: +11.50%
24h High: $3.365
24h Low: $2.582
Market Context:
ME/USDT is showing signs of recovery after a significant downtrend. The price is currently attempting to stabilize above $3.00, which is a critical psychological and technical support zone. Buyers are cautiously stepping in, creating an opportunity for both bullish and bearish strategies depending on the breakout or breakdown.
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Trading Plan
📈 Long Trade Setup
Entry Level: $3.200 (Breakout confirmation above $3.20 resistance)
Targets:
🎯 Target 1: $3.500 (Immediate resistance)
🎯 Target 2: $4.000 (Mid-term resistance and psychological level)
Stop Loss: $3.000 (Below key support level)
Rationale:
A breakout above $3.20 signals bullish continuation.
Momentum could target $4.00 as traders regain confidence.
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📉 Short Trade Setup
Entry Level: $3.050 (Breakdown below support)
Targets:
🎯 Target 1: $2.800 (Immediate support)
🎯 Target 2: $2.500 (Mid-term support zone)
Stop Loss: $3.250 (Above recent resistance)
Rationale:
A breakdown below $3.00 signals bearish sentiment with potential for further declines.
Volume supports a potential retracement to $2.50.
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Technical Levels to Watch
Key Resistance Levels: $3.20, $3.50, $4.00
Key Support Levels: $3.00, $2.80, $2.50
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Predictions & Recommendations
Short-Term Prediction: Likely to retest $3.20 resistance. A breakout could lead to $3.50.
Mid-Term Prediction: If $3.00 fails as support, price may retest $2.80 or lower.
Recommendations:
For Long Positions: Wait for a confirmed breakout above $3.20 before entering.
For Short Positions: Monitor for breakdowns below $3.00 and secure profits early.
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Risk Management & Strategy
High volatility observed; manage risks by using proper stop losses.
Secure partial profits at key targets to lock in gains.
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Hashtags:
#CryptoTrading #TradingSignals #MEUSDT #Binance #MarketAnalysis