Strong downward trend for $ME /USDT, with a current price of 4.202, marking an 18.28% decrease in the last 24 hours.
The price is nearing its 24-hour low of 4.100, showing bearish momentum.
Key observations:
Volume spike: The trading volume remains high at 36.16M $ME , signaling active trading, possibly due to selling pressure.
Bollinger Bands: The price is hovering near the lower band, suggesting oversold conditions, but could also indicate strong downward momentum.
Moving Averages (MA): The price is below the 5-day and 10-day MAs, confirming bearish sentiment.
RSI/W%R indicator: Oversold conditions could trigger a temporary bounce, but the broader trend suggests caution.
For short-term traders, careful monitoring of support levels around 4.1 is critical. A breakdown could lead to further downside.
Buy $ME