📊Technical analysis $ME /USDT — 15min/1h timeframe
Current price ≈ 0.1963 USDT +49.73% rise, sharp rally from ~0.13–0.15 lows, accelerating upside with green candles.
Price action & Bollinger Bands: Price near upper BB (UP ~0.1888, MB ~0.1526, DN ~0.1165). Bands expanded on up move, price hugging upper band — overbought extension, potential short-term pullback/consolidation.
Volumes: Current ~118M, MA(5) ~123M, MA(10) ~68M — volume spike on recent green candles (strong buying pressure), now elevated on upside. Watch for dry-up on dips or surge on green.
Key indicators:
• MACD: Strongly positive (DIF 0.0125, DEA 0.0077, MACD 0.0048), histogram bullish — momentum up.
• RSI(6/12/24): 98.58 / 95.57 / 89.61 — deeply overbought (RSI6 >95), exhaustion/pullback signal possible. Uptrend with extreme overbought conditions + upper BB hug suggest short-term pullback likely before next leg up.
🟢 Long (moderate-high risk) Entry: 0.19–0.195 (current or dip to MB) TP1: 0.21–0.22 TP2: 0.23–0.25 SL: 0.18–0.185 R/R: ~1:3+ Comment: Good if RSI pullback + volume on green. Momentum favors continuation/scalp on dip.
🔴 Short (moderate risk) Entry: 0.20–0.205 (fade at upper extension/resistance) TP1: 0.19–0.185 TP2: 0.17–0.16 SL: 0.21+ R/R: ~1:3+ Comment: Strong if rejection at resistance + MACD divergence. Counter-trend if overextension fades.
⚠️ Most likely scenario now Short-term pullback/consolidation from extreme overbought levels (RSI>95) towards MB (~0.15–0.16) or slightly lower. Then possible continuation higher if strong volume support. Longs have structural edge in explosive uptrend; shorts only on clear rejection signals. High vol — tight risk, watch RSI/volume closely.