cats in a dogs world (MEW) — Chart Analysis & Trade Setup 🚨

Here we go with another detailed token analysis and trade setup. Ready? Let's go!

About The Token

‣ Name: cats in a dogs world

‣ Symbol: $MEW

‣ Type: Memecoin

‣ CoinMarketCap Rank: 108
‣ Market Cap: 583M
‣ Volume 24h: 98M
‣ Total Supply: 88B
‣ Circulating Supply: 88B
‣ Chain: Solana

▶️ Chart Analysis

MEW formed a perfect bottom and entered an uptrend right afterward. The token makes higher highs and higher lows and heads towards the resistance at 0.85. Volume has been increasing lately.

▶️ Technical Indicators
‣ MACD: Bullish 🟢
‣ RSI: Neutral 🟢
‣ VMA: Neutral 🔵
‣ Triple EMA: Price trades above all EMAs 🟢
‣ ADX: 26, indicating a light trend 🔵

▶️ Trade Setup
‣ Entry: The current price is right between support and resistance and, therefore, not the perfect place to enter. Two alternatives are apparent:
1 — Wait for the price to break through the resistance at 0.85. Although this is a safer approach, the potential gains are limited - short-term.
2 — Wait for the VMA to indicate an uptrend and use it as an entry.
‣ Target 1: $0.085
‣ Target 2: $0.1 (ATH)
‣ Stop Loss: Depends on your entry.