MEWUSDT has officially broken out of a long-term descending trendline that has capped price action since December 2024. The formation of a Rounded Bottom (Cup) suggests a strong accumulation phase and potential for trend reversal. The current retest of the breakout zone will be crucial in determining the next big move!
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🔍 Technical Analysis Details:
1. Chart Pattern: A clear Rounded Bottom (Cup) pattern has formed, often signaling a bullish reversal. Price has broken through the descending trendline, and is now retesting the breakout zone (highlighted in yellow), which previously acted as resistance and is now turning into key support.
2. Resistance Levels (Upside Targets):
⚡ 0.004105 – First breakout point
🟡 0.006491 – Mid-level resistance
🟡 0.007725 – Previous local high
🟡 0.009970 – Strong resistance zone
🔵 0.012214 – Psychological resistance
🔵 0.012936 – Major swing high
3. Key Support Levels:
🟡 0.003200 – Current demand zone (yellow box)
🔵 0.001614 – Historical bottom
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✅ Bullish Scenario:
If MEWUSDT holds above the 0.0032-0.0041 support zone and confirms it as a new base:
🎯 Target 1: 0.00649
🎯 Target 2: 0.0077
🎯 Higher targets: 0.0099 up to 0.0129 This breakout may be the start of a strong bullish rally, especially if accompanied by increasing volume.
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⚠️ Bearish Scenario:
If price fails to hold the breakout zone and falls back below the trendline:
Price may revisit 0.0026 – 0.0020 support
Further weakness could push it back to the 0.001614 historical low
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🧠 Conclusion:
MEWUSDT is showing early signs of a bullish reversal after breaking out of a long-term descending trendline and forming a rounded bottom pattern. The current retest zone is critical — holding this level could confirm the start of a bullish trend with multiple upside targets.
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