MELANIA Memecoin Rebounds 27.8% After 97% Crash: Trend Reversal or Short-Lived Rally?
The MELANIA memecoin (MELANIA) experienced a dramatic market shift, plunging 97% from its all-time high due to suspected slow rug pull actions by its core team, who sold $14.7 million worth of tokens. This event led to heavy market pessimism and strong selling pressure, with the RSI entering oversold territory and traders heavily shorting the token. However, the latest data shows a significant 27.8% price rebound within 24 hours, with trading volume up 49% to $124.19 million, and open interest climbing 35.85%, signaling increased demand and market participation. Technical indicators, such as a bullish RSI crossover and a rising Stoch RSI, confirm renewed buying momentum. Currently, 68% of traders hold long positions and buyers are accumulating more tokens than sellers exiting. The next resistance level is $0.53, but with many holders moving into profit, profit-taking could spark a pullback to $0.40 if momentum weakens. Overall, MELANIA’s market outlook has shifted from extremely bearish to potentially bullish in the short term, but traders should remain alert to rapid reversals as profit-taking grows. SEO keywords: MELANIA memecoin, trend reversal, crypto trading, technical indicators, slow rug pull.
Bullish
After a significant 97% decline triggered by suspected team sell-offs and bearish sentiment, MELANIA memecoin has shown a sharp price rebound, rising 27.8% in 24 hours with notable increases in trading volume and open interest. Key technical indicators, including a bullish RSI crossover and strong buyer accumulation, suggest renewed optimism among traders and a short-term uptrend. However, as more holders move into profit, the risk of profit-taking and a potential correction grows. For now, the dominant trend is bullish, with technical momentum favoring buyers, but volatility and reversal risks remain elevated given the recent market history.