$MEME Daily Chart — Bearish Continuation Pattern ⚠️
Price failed to return to the key supply zone of 0.0018–0.0020, and the strong downtrend remains intact. Currently, MEME is trading below all major EMAs (20/50/100/200), trapped in a clear descending channel with lower highs and lower lows. Volume confirms that each rally is accompanied by heavy selling, while the RSI indicator is trending downwards from the 50 midline—a classic distribution pattern.
🔻 Short entry point: 0.00120 – 0.00125
🎯 Target levels:
• TP1: 0.00095
• TP2: 0.00074 (Channel bottom + 0.618 Fibonacci extension)
• TP3: 0.00052 (Retesting the 2024 low)
🛑 Stop loss: 0.00152 (Channel top and above the previous high)
⚠️ Risk Management: Maximum risk per trade should be controlled within 2-3%, with a minimum risk-reward ratio of 1:3. Move the stop loss to the break-even point after reaching TP1.
#MEMECOIN #MEME #TechnicalAnalysis #Bearish
{future}(MEMEUSDT)