technical analysis and trade signal for $ME /USDT with three target levels and trade momentum

Current Price: $4.27

24h High: $4.81

24h Low: $4.02

24h Volume (USDT): 137.80M (Shows good market activity)

Trend Analysis:

Current Trend: The price has dropped -10.90% in the last 24 hours, suggesting a bearish momentum in the short-term.

Support: $4.02 (24h low) — a strong support level if the price pulls back.

Resistance: $4.81 (24h high) — a key resistance level for a potential bounce.

Momentum Indicators:

The price is currently in a short-term downtrend (as seen with the negative percentages in 15m, 1h, 4h, and 1D).

RSI (Relative Strength Index) might be approaching oversold conditions, suggesting a potential reversal or consolidation soon.

MACD could be showing a bearish crossover, signaling a continuation of downward momentum, but it is worth watching for any bullish reversal.

Trade Signals:

1. Buy Signal:

Entry Point: $4.10 (near support) — If the price shows signs of bouncing from the $4.02 level, consider entering around $4.10.

Target Levels:

First Target (T1): $4.40 — A short-term resistance point.

Second Target (T2): $4.60 — An intermediate resistance level.

Third Target (T3): $4.80 — The previous 24h high, marking the next significant resistance level.

Stop-Loss: Below $4.00 (if the price breaks through support).

2. Sell Signal:

Entry Point: $4.20 — If the price fails to maintain above $4.20 and shows continued weakness.

Target Levels:

First Target (T1): $4.05 — Potential support zone.

Second Target (T2): $4.00 — A key support level.

Third Target (T3): $3.90 — Psychological support below $4.00.

Stop-Loss: Above $4.40 (in case of a reversal).

Trade Momentum:

Bearish Momentum: Currently, with a price drop of nearly 10% in the last 24 hours, the market shows strong bearish pressure. However, the volatility and volume are high, indicating that price action can shift quickly.

Watch for reversal signals like a bullish engulfing candle or divergence on RSI