#MEW/USDT#MEW
The price is moving in a descending channel on the 1-hour frame and is sticking to it well
We have a bounce from the lower limit of the descending channel and we are now touching this support at a price of 0.007820
We have a downtrend on the RSI indicator that is about to be broken, which supports the rise
We have a trend to stabilize above the moving average 100
Entry price 0.008400
First target 0.009337
Second target 0.009965
Third target 0.010845
Mewvusd
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