$ME
/USDT Technical Analysis & Trade Strategy 🎯
1. Current Price & Market Data
Current Price: $3.85
24h High: $4.51
24h Low: $3.73
24h Volume (ME): 17.56M
24h Volume (USDT): 70.93M
24h Change: -13.07% (significant pullback)
2. Indicators & Support/Resistance
Support: $3.70 (recent low, key support zone)
Resistance: $4.00 (psychological resistance, near 24h high)
MACD (1h): Bearish, showing potential for further downside momentum.
RSI (1h): 34, indicating oversold conditions and a possible reversal.
3. Trade Setup
Entry Zone: $3.70 - $3.80 (near support or during consolidation)
Stop-Loss: $3.50 (below key support level)
4. Target Levels 🎯
1. Target 1: $4.00 (immediate resistance, psychological level)
2. Target 2: $4.20 (breakout level, previous resistance)
3. Target 3: $4.40 (next key resistance)
Trade Strategy
1. Entry: Enter near $3.70 - $3.80, targeting a potential reversal after the pullback.
2. Stop-Loss: Place stop-loss at $3.50 to manage risk.
3. Profit-Taking: Consider taking partial profits at $4.00 and $4.20, then hold for $4.40 if momentum strengthens.
Risk-Reward:
Risk: $0.30 (Entry: $3.80, Stop-Loss: $3.50)
Reward:
Target 1: $0.20
Target 2: $0.40
Target 3: $0.60
Conclusion
This setup provides a 1:2 to 1:3 risk-reward ratio with good potential for a rebound, given the oversold RSI and key support at $3.70. Watch for volume confirmation and momentum before entering.