MEW has made a strong move, surging 18.22% to push its 24-hour high to 0.0005379. Trading volume also climbed to over 960,000, with price and volume moving in tandem.
My take: The rally has been a bit sharp, but the low of 0.0004075 held. The price is now consolidating at a high level, sentiment is clearly overheated, and short-term money has flowed in heavily.
Keep an eye on two things next: whether it can hold above the 0.0005 level, and whether trading volume continues to expand. If volume doesn’t keep up, there’s a risk of a pullback after the spike.
My take: The rally has been a bit sharp, but the low of 0.0004075 held. The price is now consolidating at a high level, sentiment is clearly overheated, and short-term money has flowed in heavily.
Keep an eye on two things next: whether it can hold above the 0.0005 level, and whether trading volume continues to expand. If volume doesn’t keep up, there’s a risk of a pullback after the spike.