$ME Long Liquidation Alert: What’s Next for the Bulls?
$ME just experienced a long liquidation of $9.9383K at $3.065, indicating that buyers might be losing strength in the short term.
However, this could also present a great buying opportunity for those looking to capitalize on the next move.
Current Market Situation:
Liquidation Level: $3.065
Sentiment: Weak hands are exiting, which could lead to a potential reversal or further downside pressure.
What’s Next for
$ME ?
If
#ME holds its key support zone, it may recover and aim for higher levels. However, if selling pressure continues, we could see further dips before a reversal.
Buy Zone, Targets, and Stop Loss:
Buy Zone: $3.00 - $3.10 (Look for confirmations like bullish candles or increased volume in this zone)
Target 1: $3.30
Target 2: $3.50
Target 3: $3.70 (if momentum continues strongly)
Stop Loss: Below $2.90 (To manage downside risks)
Key Levels to Watch:
Resistance Zones:
$3.30 (Immediate hurdle)
$3.50 (Stronger resistance)
Support Zones:
$3.00 - $3.10 (Critical support for a potential bounce)
$2.90 (Break below this could signal further downside)
Final Thoughts:
The long liquidation at $3.065 suggests that bulls are being forced out, but this could provide an excellent entry point for patient buyers.
If
$ME holds above the $3.00 - $3.10 zone, we could see a strong recovery toward $3.30 and beyond.
However, a break below $2.90 may lead to deeper corrections, so always keep risk management in place.
Pro Tip: Watch for volume spikes or bullish candlestick patterns near the support zone—they could confirm the next move!