Technical analysis by aydinbirc about Symbol MEME on 1/5/2025

1. Chart Pattern Triangle Pattern: The price movement appears to be forming an ascending triangle pattern. This pattern typically indicates a potential breakout. Lower Trendline: There is an ascending support line where the price is consistently finding support. Upper Resistance Line: The resistance level is around 0.01235, which acts as a ceiling for the price. 2. Support and Resistance Levels Support Levels: 0.01114: A strong short-term support level. 0.01098: A secondary support level below. Resistance Levels: 0.01235: The key resistance level that needs to be broken for further upward movement. 3. Indicators RSI (Relative Strength Index): The RSI graph below fluctuates between 30 and 70, indicating that the market is neither in an overbought nor oversold zone. The current RSI is near the mid-level, suggesting neutral momentum. An upward movem Volume: The 24-hour volume shown is 320.53 million. If the volume is low, the breakout from the triangle pattern might lack strength. A high-volume breakout would provide more reliability. 4. Performance Data In the performance section on the bottom right: 1D (1 Day): +10.05% increase. 1W (1 Week): -29.46% decrease. 1M (1 Month): -17.19% decrease. This indicates a short-term recovery attempt within an overall bearish trend. 5. General Outlook Short-Term Expectation: If the price holds above the 0.01114 support level and breaks upwards with significant volume, the next target would be the 0.01235 resistance level. Long-Term Risk: If the 0.01114 support level is broken to the downside, the price could drop further to 0.01098 or lower levels.