Trading Signals for Magic Eden $ME
Action: Long and Short positions

Magic Eden (ME) has shown significant volatility over the past few days, with a 24-hour price range from $2.94 to $3.59, signaling potential opportunities for quick trades. The price recently touched an all-time low of $2.60, a 28.69% increase from that point could indicate an oversold condition. However, considering the price has recently dropped from $13.24, caution is advised. The market cap of $434.32M combined with a 90.75% 24h volume-to-market cap ratio suggests active trading, which is ideal for scalping.

We are likely to see short-term consolidation in the current range of $3.00 to $3.40, forming a potential symmetrical triangle pattern, a common consolidation before a breakout.

Trading Strategy:

Long Position:
Entry Range: $3.00 - $3.05 (Look for confirmation of upward momentum)
Stop Loss: $2.95
Take Profit: $3.25

Short Position:
Entry Range: $3.40 - $3.45 (Wait for a failure to break upward)
Stop Loss: $3.50
Take Profit: $3.10

🥂Trade Here👇$ME

🚨Note: Trade at your own risk. DYOR.

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