🚀 E/USDT sees slight decline: what's next? 🚀📉
The $ME/USDT pair is currently trading at 3.165 USDT, reflecting a slight decrease of 0.06% (-0.014 USDT) in the last 24 hours. The 15-minute candlestick chart shows the recent price action with a 24-hour high of 3.280 USDT and a low of 3.102 USDT. The trading volume over the last 24 hours is large, with 5.63 million ME and 17.98 million USDT traded. The latest price action shows a slight decrease, indicating a possible continuation of the downtrend.
📈 Market conditions:
The overall market sentiment is bearish, with strong selling pressure and weak support levels. The price has fallen below key support points, indicating a continued downward trend. This situation poses a potential risk for traders looking to enter the market.
📊 High Probability Trading Scenarios:
- **Bullish Scenario:** If the price manages to bounce above 3.200 USDT, it may target the next resistance at 3.250 USDT. **Take Profit (TP):** 3.250 USDT, **Stop Loss (SL):** 3.150 USDT.
- **Bearish Scenario:** If the price fails to hold above 3.150 USDT, it may continue to decline towards the next support at 3.100 USDT. **Take Profit (TP):** 3.100 USDT, **Stop Loss (SL):** 3.200 USDT.
📈 Market expectations:
Given the strong selling momentum, the downtrend is expected to continue. Traders should monitor key price points and trading volumes to gauge the strength of the trend. The next few trading sessions will be crucial in determining the market direction.
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