MEWUSDT → False breakout of resistance after distributionBINANCE:MEWUSDT.P in the distribution phase is testing a strong resistance and liquidity zone against which it makes a false breakout.
Regarding the current situation, we should pay attention to several key levels - support and upper resistance. A retest of 0.00300 - 0.00312 is possible, the target of which could be another liquidity zone, before MEW continues its fall according to the current local and global trend, which have a common direction on the background of weak bitcoin and weak cryptocurrency market.
Resistance levels: 0.002793, 0.003, 0.00312
Support levels: 0.002696
The key support area plays the role of 0.002696, which are trying to contain the market. Below this line is a free zone and there are no levels that can prevent the movement. Thus, the breakdown and consolidation of the price under 0.026969 can provoke a strong impulse towards the zones of interest 0.00222, 0.002
Regards R. Linda!
