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$ME Technical Analysis โ Short-Term Pressure After Recovery Attempt ๐ฅ๐
$ME is currently trading around $0.06690 with a +1.65% daily gain, showing a small recovery after holding above the $0.06544 low. However, the latest candle shows selling pressure as traders take profits near local resistance. ๐
On the 15M chart, price has slipped below key moving averages:
๐น MA5: $0.06709
๐น MA10: $0.06723
๐น MA20: $0.06714
This suggests short-term weakness, but the structure remains in a consolidation phase as buyers defend lower levels. ๐ช
๐ฏ Key Levels:
๐ข Support: $0.06629
๐ก Resistance: $0.06785
๐ Breakout Zone: Above $0.06785 with volume
๐ Traderโs View:
$ME is showing a healthy weekly recovery with +6.90% over 7 days, but bulls need to reclaim the moving averages to regain short-term control. Holding support could create another push toward resistance, while losing the support zone may increase selling pressure.
With lower liquidity and 10x leverage available, risk management is important. Smart traders should wait for confirmation instead of chasing sudden ๐
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