【$ME Signal】Hold Cash Waiting for Healthy Pullback

$ME After a single-day surge of over 40%, the price has consolidated with decreasing volume at a high level, RSI is seriously overbought at 77.67, and short-term momentum is exhausted.

🎯Direction: Hold Cash (NoPosition)

Market Analysis: After three consecutive volume-increasing bullish candles on the 4H chart, the latest candle forms a doji at a high level, with trading volume dropping sharply, indicating a lack of buying enthusiasm. The buy/sell ratio has continued to decline during the rally (0.53 -> 0.48), suggesting that the upward movement is mainly driven by short covering (short squeeze) rather than new long positions.

Logical Core: The current price has moved far away from the EMA20 (0.1552) support, with a depth imbalance of -0.99%. The sell wall (Asks) at 0.1904-0.1905 is unusually heavy (over $100,000), creating direct resistance. Open interest (OI) trend remains stable, but funding rates are unknown, so it’s unclear whether this is a healthy bullish trend.

Trading Plan: Avoid chasing the high. Wait for a healthy pullback, ideally in the breakout zone near the EMA20 support of 0.1550-0.1600. Watch for signs of volume shrinking, absorption of buy orders, and RSI pulling back toward 50. The current price is driven by emotional hype, with a poor risk/reward ratio, and risks far outweighing potential gains.

Trade here 👇 $ME

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