technical analysis of the $ME
/USDT pair based on current data and market behavior:🔥💯
Technical Analysis (ME/USDT)
Current Price: $3.001
24h Change: -1.83%, indicating slight negative momentum over the last day.
Support Level (24h Low): $2.992 – This is a critical support level, and a bounce here could potentially signal a buy opportunity.
Resistance Level (24h High): $3.224 – This is the immediate resistance to watch for a breakout to the upside.
Trade Signal
Trend: Bearish in the short term (due to a negative 1.83% move in the last 24h).
Entry Point: Consider an entry around $3.00 or near $2.992, if the price shows a rebound from support.
Target Levels (Price Predictions)
1. Target 1 (First Resistance): $3.125 – Possible upward move towards this level as the market tries to recover.
2. Target 2 (Secondary Resistance): $3.150 – Watch for a breakout above this level for further bullish momentum.
3. Target 3 (Final Resistance): $3.224 – The 24-hour high, a key level where price may face significant resistance.
Momentum:
The momentum is slightly bearish, but a price bounce off the support could flip sentiment quickly towards an upward trend, depending on how the broader market behaves. Keep an eye on any sudden shifts in volume or major market events.
Action Recommendation:
Consider buying at support around $2.992 with targets at $3.125, $3.150, and $3.224.
Use tight stop-loss just below $2.990 to manage risk.