ME Illusion? Hidden currents, a sharp drop triggered!
The price trend of Magic Eden is like a ticking time bomb — from the perspective of short-term moving averages (MA), ME has entered a downward trajectory. Although it currently appears to be consolidating, this is merely the calm before the storm. Looking at the extended timeframe, the downtrend has already been written on the charts, and the market's demand for a downward move is strong. It is highly probable that we will see a bearish breakout, leading to an even more severe decline!
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