Fibonacci Levels:
The chart uses Fibonacci retracement and extension levels (e.g., 0.236, 0.382, 0.5, 0.618, and 3.618).
The price is currently below the 0.786 retracement level, which has acted as strong resistance. A failure to break this level may signal a pullback or continuation of a downtrend.
Resistance Zones:
There are clearly marked horizontal resistance zones around $0.015–$0.016.
The price attempted to break this area multiple times but was rejected, which strengthens its significance.
Bearish Pattern:
A potential rising wedge or similar corrective structure is visible.
If this pattern breaks downward, the price might revisit lower Fibonacci levels, such as 0.5 or 0.382 retracements, near $0.011 or $0.009, respectively.
Volume Insights:
Declining volume during the upward move may indicate weakening bullish momentum. If selling volume increases, it could confirm a breakdown from the cu
Support: $0.011
A break below $0.011 could send the price to $0.009 or lower.
General Outlook:
Bullish Case: If MEME/USDT manages to break above $0.016 with strong volume, it could target higher Fibonacci extensions, such as 1.618 or beyond.
Bearish Case: A rejection from the current resistance zone may lead to a significant drop, aligning with the bearish pattern.
The chart uses Fibonacci retracement and extension levels (e.g., 0.236, 0.382, 0.5, 0.618, and 3.618).
The price is currently below the 0.786 retracement level, which has acted as strong resistance. A failure to break this level may signal a pullback or continuation of a downtrend.
Resistance Zones:
There are clearly marked horizontal resistance zones around $0.015–$0.016.
The price attempted to break this area multiple times but was rejected, which strengthens its significance.
Bearish Pattern:
A potential rising wedge or similar corrective structure is visible.
If this pattern breaks downward, the price might revisit lower Fibonacci levels, such as 0.5 or 0.382 retracements, near $0.011 or $0.009, respectively.
Volume Insights:
Declining volume during the upward move may indicate weakening bullish momentum. If selling volume increases, it could confirm a breakdown from the cu
Support: $0.011
A break below $0.011 could send the price to $0.009 or lower.
General Outlook:
Bullish Case: If MEME/USDT manages to break above $0.016 with strong volume, it could target higher Fibonacci extensions, such as 1.618 or beyond.
Bearish Case: A rejection from the current resistance zone may lead to a significant drop, aligning with the bearish pattern.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.