The MEME (USDT) asset on the weekly timeframe shows potential for growth after a long period of consolidation. The price is currently at $0.01470, up 31.84% in a week. ✨ The chart shows the following:
Indicator:
The parabolic SAR (dots above the candles) shows that the current bearish trend may be nearing its end.
Bollinger Bands are narrowing, indicating a decrease in volatility and a possible sharp move.
The price breaks the 7-day moving average ($0.01114) and is heading towards resistance at the 25-day moving average ($0.01617).
Ichimoku:
The Ichimoku Cloud also shows potential for a breakout, especially if price can consolidate above current levels.
The short-term target may be the resistance level at $0.02240. 📈
Volumes: There is an increase in trading volume, which confirms the growing interest of investors in the asset. 🚀
Technical Setup: After trading sideways for several weeks, the asset looks set to break out higher with upside potential of up to 274% from the current price if it breaks the resistance at $0.05854.
💡 Conclusion: If the bullish signals are confirmed, MEME has a good chance of a significant increase. However, traders should keep an eye on volumes and confirmation of a breakout of key levels. 📊
