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
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.