$ME Based on the information provided, it seems that there has been a significant short liquidation event at $3.51782, with a liquidation value of $3.1495K. This indicates that short sellers were forced to close their positions due to the price moving upward. Here's a detailed analysis.
Current Market Sentiment.
1. Short Liquidation Event.
This is a bullish signal, as it shows that the price is moving upward, triggering the liquidation of short positions.
2. Price Momentum.
The current price could see continued upward movement if buyers gain confidence.
Key Levels for $ME.
Buy Zone.
$3.40 to $3.50
If the price pulls back slightly, this zone can be a good area to enter. This is close to the liquidation level, which often acts as support.
Targets.
1. Target 1. Short Term. $3.65
This is a nearby resistance level where some sellers might appear.
2. Target 2. Mid Term. $3.75
If momentum continues, the price could move toward this level.
Stop Loss.
$3.35
Place the stop loss slightly below the buy zone to minimize risk if the market reverses.
What to Watch Next.
1. Volume.
If trading volume increases, it confirms strong buying interest and the potential for further upside.
2. Resistance Breakout.
Watch for a clean breakout above $3.60 with high volume, as it could lead to a strong rally.
3. Market Sentiment.
Observe broader market trends to see if they align with bullish movement.
Summary.
Buy Zone: $3.40 to $3.50
Targets: $3.65 short term, $3.75 mid term
Stop Loss: $3.35
Trade carefully, and monitor price action around key levels.
#ME #CryptoETFMania #GMTBurnVote #BitwiseBitcoinETF #CryptoRegulation2025