#MEME/USDT#MEME
The price is moving in a descending channel on the 1-hour frame and is adhering to it well and is heading to break it strongly upwards and retest it
We have a bounce from the lower limit of the descending channel, this support is at a price of 0.00284
We have a downtrend on the RSI indicator that is about to break and retest, which supports the rise
We have a trend to stabilize above the moving average 100
Entry price 0.00309
First target 0.00334
Second target 0.00355
Third target 0.00381
Memeusdtanalysis
MEME target 0.01314h time frame
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Entry: $0.0097
TP: $0.0131
SL: $0.00885
RR: 4
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(1) Double bottom is creating
(2) Bullish engulfing triggered reversal on 1h time frame
(3) For bottom structure like this, fib projection 2.0 is the general target around $0.0124
(4) Considering the ongoing big consolidation structure, set target higher at $0.0131
(5) Stop loss once going below $0.00885