Current Price: ~$0.1874
Context: Strong impulsive rally (+30%) followed by short-term cooling
🔍 Market Structure
ME has completed a sharp expansion move and is now transitioning into a distribution / consolidation phase.
Momentum has slowed, which is a normal behavior after aggressive upside moves.
Price is currently trading below EMA(7), EMA(25), and EMA(99), indicating short-term bearish pressure on the lower timeframe and a lack of immediate continuation strength.
📈 Momentum & Indicators
Williams %R (≈ −82):
Market is in an oversold zone, suggesting selling pressure is weakening.
However, this should be treated as condition-based information, not a standalone reversal signal.
Volume:
A noticeable decline in volume after the pump confirms a cool-off phase, rather than fresh accumulation.
🎯 Key Technical Levels
Demand (Support):
• 0.1850
• 0.1800 (major intraday support)
Supply (Resistance):
• 0.1900
• 0.2000 (key psychological & liquidity level)
🧠 Execution Outlook
Bullish continuation is only valid if price reclaims 0.190 with strong volume acceptance.
Failure to hold 0.185 increases the probability of a deeper mean reversion.
At current levels, the market favors patience or scalp-based execution, rather than aggressive positioning.
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