Search

MEW-111024

MEW-111024

Direction
Long
Published
October 11, 2024
Status
Token

MEW

Trigger
Support/Resistance
Type
Trade Strategy
Updated

About + Tokenomics

CoinMarketCap Rank
108
Market Cap
583M
Volume 24h
98M
Total Supply
88B
Circulating Supply
88B
Chain
Solana

Chart Analysis

MEW formed a perfect bottom and entered an uptrend right afterward. The token is making higher highs and higher lows and heads towards the resistance at 0.85. Volume has been increasing lately.

Technical Indicators

  • MACD: Bullish 🟢
  • RSI: Neutral 🟢
  • VMA: Neutral 🔵
  • Triple EMA: Price trades above all EMAs 🟢
  • ADX: 26, indicating a light trend 🔵

Chart

image

Trade Setup

  • Entry: The current price is right between support and resistance and therefore not the perfect place to enter. Two alternatives are apparent:
    • Wait for the price to break through the resistance at 0.85. Although this is a safer approach, the potential gains are limited - short-term.
    • Wait for the VMA to indicate an uptrend and use it as an entry.
  • Target 1: $0.085
  • Target 2: $0.1 (ATH)
  • Stop Loss: Depends on your entry.

Links