MEW has a strongly bullish outlook on the higher timeframes but could face a minor setback in the coming hours at the three-month highs.
was trading at the highs it set during the rally in the second half of July. The market structure has been bullish since the 19th of September. The buying pressure showed bulls were dominant in the past week.up by 86% in October, traders would do better to take profits than enter long positions at a resistance level.The recent price rally of BTC has been accompanied by a soaring meme coin and AI sector.
To the north, the next targets will be the Fibonacci extension levels at $0.1 and $0.123. Until such a breakout occurs on high trading volume, market participants must expect a sizeable pullback. Meanwhile, the Open Interest and prices trended higher and speculators seemed bullishly poised. It is unclear where MEW could go in the coming hours.
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