MELANIA Memecoin Don Bounce Back 27.8% After 97% Crash: Na Trend Don Change or Na Short Rally?
Di MELANIA memecoin (MELANIA) don suffer sharp market gbege, e drop 97% from im all-time high because some slow slow rug pull wey di core team do, dem sell token worth $14.7 million. Dis kain thing make market fear bad and selling pressure strong, RSI enter oversold zone, traders dey short di token wella. But latest data show say price don bounce back 27.8% within 24 hours, trading volume up 49% to $124.19 million, open interest also climb 35.85%, meaning demand and market action don increase. Technical indicators like bullish RSI crossover and Stoch RSI wey dey go up confirm say buying momentum dey come back. Right now, 68% traders dey hold long positions, buyers dey gather more tokens than sellers wey dey exit. Next resistance level na $0.53, but as many holders dey make profit, profit-taking fit cause market to pull back to $0.40 if momentum weak. Overall, MELANIA market outlook don change from worse bearish to possible short-term bullish, but traders suppose dey watch well well for quick reversals as profit-taking dey increase.
Bullish
After beta big 97% fall wey happen because dem suspect team dey sell and bearish feeling dey, MELANIA memecoin don show sharp price rebound, e rise 27.8% for 24 hours with better increase for trading volume and open interest. Important technical signs, like bullish RSI crossover and strong buyer accumulation, dey show say traders get new hope and say short-term uptrend dey happen. But as more holders dey make profit, risk of profit-taking and possible correction go increase. For now, the main trend na bullish, technical momentum dey favour buyers, but volatility and risk of reversal still high because of recent market history.