Technical analysis by iMoneyTeam about Symbol MEW: Sell recommendation (4/18/2025)

We have a supply zone from which a strong drop has previously formed. This zone has been tested once already, but with only minimal penetration. Given this shallow penetration and the price’s inability to make a lower low, we are once again expecting a potential short position from this zone. We’re looking for a short position because the larger market structure is bearish. If the price reaches the supply area, we’ll be looking to enter a position. We expect the liquidity pool below the chart to be swept, leading price to hit our targets. However, if a daily candle closes above the invalidation level, this outlook will no longer be valid. Do not enter the position without capital management and stop setting Comment if you have any questions thank you