#MEW Buy Range
Key Observations:
Candlestick Movement:
Red candles represent a decrease in price (bearish weeks), while green candles indicate price increases (bullish weeks).
The chart shows a significant wick from the previous peak in July, indicating strong volatility.
Support Levels:
Three horizontal green lines mark critical price levels for potential buy entries:
0.005379: The lowest level, indicating a stronger support zone, possibly the best buy opportunity.
0.005557: A moderate support level for possible buy entries.
0.005787: A higher-level support that has recently been tested by the red candlestick.
Trendline:
A blue diagonal trendline supports the overall upward momentum, connecting higher lows, suggesting continued bullishness if respected.
Conclusion:
The green lines serve as key buying zones, with 0.005379 being the optimal level based on historical price action. The price is currently testing higher levels near 0.005787, but the lower green lines offer safer entry points for buyers. The upward trendline suggests potential for further price growth, with proper risk management around the support zones.
Candlestick Movement:
Red candles represent a decrease in price (bearish weeks), while green candles indicate price increases (bullish weeks).
The chart shows a significant wick from the previous peak in July, indicating strong volatility.
Support Levels:
Three horizontal green lines mark critical price levels for potential buy entries:
0.005379: The lowest level, indicating a stronger support zone, possibly the best buy opportunity.
0.005557: A moderate support level for possible buy entries.
0.005787: A higher-level support that has recently been tested by the red candlestick.
Trendline:
A blue diagonal trendline supports the overall upward momentum, connecting higher lows, suggesting continued bullishness if respected.
Conclusion:
The green lines serve as key buying zones, with 0.005379 being the optimal level based on historical price action. The price is currently testing higher levels near 0.005787, but the lower green lines offer safer entry points for buyers. The upward trendline suggests potential for further price growth, with proper risk management around the support zones.
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