$ME /USDT: Strong Uptrend Continuation Setup
1. Entry Point: $4.00 (confirmation above psychological resistance)
2. Take Profit Targets:
TP1: $4.20
TP2: $4.40
TP3: $4.60
3. Stop Loss: $3.80
4. Technical Insight: After a strong recovery from $3.30, the price is forming higher highs. Breaking $4.00 confirms continued bullish momentum.
5. Risk-Reward Ratio: Highly favorable with a potential 1:4 return on TP3.
6. Volume Confirmation: Increasing volume supports a potential breakout. Monitor for sustained buying pressure.
7. Trend Outlook: Uptrend intact, supported by strong momentum and consistent higher lows.
8. Trailing Stop Suggestion: Move SL to $4.00 after hitting TP1 to lock in risk-free profits.
9. Timeframe: Intraday to short-term trade; suitable for momentum and trend-following traders.
10. Note: Ensure proper risk management, as volatile moves may occur near resistance levels.