Trading Analysis for $ME /USDT (30m)
Current Price: $2.933 (-7.91%)
Technical Overview:
The pair has been under selling pressure, with the price testing lower levels. Key levels have been identified to monitor for possible rebounds or breakdowns in the near term.
Targets:
1. Target 1 (Immediate Support): $2.870
A crucial support level that could see buyers stepping in. If it holds, the price may rebound.
2. Target 2 (Resistance): $3.050
The first major resistance to watch. Breaking this level may signal short-term bullish momentum.
3. Target 3 (Breakout Level): $3.200
A key resistance level; a breakout above this may confirm a reversal and attract strong buying interest.
Action Plan:
For long positions: Look for accumulation opportunities near $2.870 with a target of $3.050 for partial profit and $3.200 for a full exit.
For short positions: Consider entries near $3.050 or $3.200 if rejection occurs, targeting $2.870.
Manage risks with stop-loss levels below $2.850 or above $3.200, depending on position direction.