MEW Update (Bullish)This symbol is one of the symbols of the Solana network.
It looks like we have an ABC pattern on the chart.
Wave B looks like a triangle that has ended.
By fixing on the red box, it can move up to ATH.
A daily candle close below the red box will violate the move towards the ATH
For risk management, please don't forget stop loss and capital management
Comment if you have any questions
Thank You
Mew
MEW analysis (6H)It seems that a large pattern (triangle or diametric) is forming, and we are now in wave D of this pattern.
The D wave pattern can have several scenarios, but a supply and demand range can be determined for MEW.
In the demand range, we can look for buy/long positions
Closing a daily candle below the invalidation level will violate the analysis.
For risk management, please don't forget stop loss and capital management
Comment if you have any questions
Thank You
MEW continues to get weaker. Descending triangle on the daily.
Notice how the supply zone (red box) maintained an aggressive resistance.
Previous demand zone later turned into supply zone (purple box) that the price couldn't sustain.
If this breaks the triangle, it may see some bids in the demand zone (green box) of the previous ATL.
Overall, bearish.
Educational purposes only. Not financial advice.