#MEUSDT

Chart Analysis:ME/USDT

1. Price Movement:

The price of ME/USDT has shown fluctuations in the last few hours.

The high on the chart is 4.213 USDT, while the low is 3.730 USDT.

The current price is 3.863 USDT, reflecting a -7.72% movement.

2. Moving Averages (MA):

MA(7): 3.830

MA(25): 3.834

MA(99): 3.915

Interpretation:

The short-term MA(7) is slightly below the current price, which could indicate a weak bullish signal.

The long-term MA(99) remains above the price at 3.915, suggesting a bearish trend.

3. Volume:

There are spikes in volume during some candles, notably around December 15, where volume increased significantly.

Higher volume often signals a potential price movement.

4. Resistance and Support:

Resistance: Around 4.103 and 4.213 USDT. These levels may pose challenges for an upward breakout.

Support: The key support level is 3.730 USDT. If the price falls below this, further decline may occur.

5. Conclusion:

If volume remains strong and the price breaks above 3.905 (MA99), it could trigger a bullish trend.

If the price drops to the support level 3.730 or below, further downside movement is likely.