I guess I should sell #ME , however this is my technical analysis

Currently, the price of ME is sitting at $4.224, down by 10.49% for the day. This decline suggests significant selling pressure, with the token trading near the middle Bollinger Band at $4.23, and volume spikes signaling heightened market activity. Let’s analyze whether it’s a good time to buy, sell, or hold:

Key Observations:

Bollinger Bands:

The price recently dipped close to the lower band around $4.022, indicating an oversold condition earlier. However, it's now moving toward the middle band, suggesting a potential consolidation phase.

Volume Spike:

The significant green volume candle hints at buyers stepping in, but follow-up momentum is weak. This could indicate hesitation or uncertainty in the market.

Resistance & Support:

Support: The recent low of $4.022 acts as a critical level.

Resistance: Immediate resistance lies at $4.33, with stronger resistance above at $4.50.

Market Sentiment:

The -10.49% drop reflects bearish sentiment, but the token is showing signs of recovery with increased trading activity.

Buy or Sell Recommendation:

Buy Recommendation:

Consider buying only if:

The price consolidates above $4.23, confirming support.

Volume strengthens, signaling renewed bullish momentum.

Set a stop-loss slightly below $4.02 to limit downside risk.

Target Levels: $4.33 (short-term), $4.50 (mid-term).

Sell Recommendation:

Sell if:

The price fails to hold above $4.22 and revisits the support at $4.02.

Bearish momentum intensifies, as seen in declining volume or large red candles.

Next Downside Level: $4.00 or lower, indicating further losses.

Conclusion:

Currently, the market is indecisive. For risk-tolerant buyers, this could be an opportunity to enter near support with a tight stop-loss. For cautious traders, wait for confirmation of a clear breakout above $4.33 or further bearish movement below $4.02 before making a decision.

Let the price action confirm your next move!