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MELANIAUSDT

MELANIA Looks Bearish (1H)The situation with the meme coin MELANIA doesn't look good. There is limited data available for this meme coin, but on the chart, 3 ABC waves of a pattern can be identified. If wave C drops to the 0.618 or 0.786 Fibonacci levels of wave A, it may reach the specified targets on the chart. The chart currently lacks a trigger for entering a position. For a sell/short position, it's better to wait for the price to reach the red zone. For a buy/long position, we need to see reversal patterns along with confirmations. For risk management, please don't forget stop loss and capital management Comment if you have any questions Thank You
by behdark
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Phemex Analysis #55: How to Trade MELANIA Like a ProThe cryptocurrency world was shaken on January 20, 2025, when Melania Trump, the incoming First Lady of the United States, launched her own meme coin, $MELANIA ( PHEMEX:MELANIAUSDT.P ). Riding the wave of excitement surrounding her husband Donald Trump’s inauguration as the 47th U.S. President, $MELANIA surged to an all-time high (ATH) of $14.50 within hours of its launch, boasting a market capitalization of over $2 billion. However, the hype was short-lived as the token plummeted by more than 76%, stabilizing around $3.40 by January 23. This dramatic rise and fall highlight the extreme volatility of meme coins like $MELANIA. Now, with traders closely watching its next moves, we explore two possible scenarios for $MELANIA’s price action and how you can trade it like a pro. Bullish Breakout: A Resurgence in Momentum. After its sharp decline, $MELANIA may be setting up for a bullish breakout. As of January 23, the token has formed a second low with a higher Relative Strength Index (RSI) compared to its first low on January 21. This signals that buying power is returning to the market. If $MELANIA breaks above the key resistance level of $4 with high trading volume, it could indicate strong bullish momentum and open the door for further gains. In this scenario, traders should watch for resistance levels at $5, $5.9, $8, $9.2, $10.8, and $12.9 as potential profit-taking zones. Positive sentiment around the token—possibly driven by media coverage or endorsements—could fuel further price increases. If you’re a short-term trader, consider gradually taking profits at each resistance level to lock in gains during the rally. For long-term holders who believe in the token’s potential or its association with Melania Trump’s public profile, holding through volatility may yield greater rewards. Bearish Drop: A Chance to Buy the Dip. On the flip side, there’s also a risk that $MELANIA could face another sharp decline if selling pressure intensifies. If the price falls below $3.29 with high trading volume and a lower RSI (below 19), it could signal further bearish momentum. In this case, psychological levels such as $3, $2, and even $1 might serve as key support zones where traders can look to buy the dip. However, caution is essential here—if the price slows down near these levels with lower volume and higher RSI compared to previous dips, it may indicate that $MELANIA is attempting to build a support base. This would present an opportunity for traders to accumulate tokens at discounted prices before any potential recovery. Conclusion. Trading meme coins like $MELANIA is not for the faint-hearted—it’s a game of high risk and high reward. With its dramatic price swings and speculative nature, this token reflects both the opportunities and challenges of trading in volatile markets. As Melania Trump garners attention in her new role as First Lady and continues to promote her digital asset, traders should remain vigilant and adapt their strategies based on evolving market conditions. Whether you’re riding bullish waves or buying dips during corrections, staying disciplined and informed will be your greatest advantage. For those willing to embrace the risks, $MELANIA offers an exciting opportunity to trade one of the most talked-about tokens in crypto history—so gear up and trade MELANIA like a pro! Tips: Elevate Your Trading Game with Phemex. Experience unparalleled flexibility with features like multiple watchlists, basket orders, and real-time adjustments to strategy orders. Our USDT-based scaled orders give you precise control over your risk, while iceberg orders provide stealthy execution. Disclaimer: This is NOT financial or investment advice. Please conduct your own research (DYOR). Phemex is not responsible, directly or indirectly, for any damage or loss incurred or claimed to be caused by or in association with the use of or reliance on any content, goods, or services mentioned in this article.
by Phemex
Melania/USDT: Is There Hope for Recovery?The chart for Melania/USDT shows a clear descending channel, reflecting the coin's ongoing downtrend. With lower highs and lower lows dominating the action, the price is struggling to break free from this bearish structure. I’ve done my best to chart this with the limited data available since the coin is new. Key Levels to Watch: Support : $3.304 serves as the lower boundary and a critical support level to hold. A break below could trigger further downside. Resistance : $4.146 is the first hurdle within the channel, while $7.097 represents a significant resistance level that needs to be reclaimed for a potential trend reversal. The descending price channel highlights the controlled nature of this downtrend, with resistance and support levels acting as key points for price action. To all of you who bought at the top, I truly feel bad it’s never easy being on the wrong side of a sharp decline. For now, the price is testing critical support, and a breakout above the channel is needed to spark hope for recovery. Until then, caution remains the best approach. What’s your take? Can Melania/USDT find its way back, or is the downtrend here to stay? 🚀 or 📉?
by CryptocurrencyWatchGroup
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