$ME /USDT - Consolidation Underway After Sharp Correction

Current Price: $3.432 (-7.89%)

24H High: $3.733

24H Low: $3.346

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Key Levels to Watch:

Immediate Support: $3.350

Immediate Resistance: $3.580

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Market Analysis:

The $ME token is currently in a downtrend after hitting resistance near $4.081, leading to a sharp pullback. Trading activity suggests a phase of consolidation around the $3.40 region. A break below the $3.35 support might push prices lower, while a recovery above $3.58 could signal bullish momentum.

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Trading Strategy:

For Long Positions:

Entry Zone: $3.35 - $3.43

Target 1: $3.58

Target 2: $3.75

Stop Loss: $3.30

For Short Positions:

Entry Zone: $3.50 - $3.58

Target 1: $3.35

Target 2: $3.20

Stop Loss: $3.65

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Observation:

The MACD shows bearish momentum but remains near the neutral line, indicating potential for either a breakout or further correction. Traders should watch volume closely for confirmation of the next directional move.

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