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

1. Chart PatternTriangle 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 LevelsSupport 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. IndicatorsRSI (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 movemVolume: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 DataIn 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 OutlookShort-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.