ME/USDT 4HR Timeframe – Potential Market Movement

📈 (This is not a trading signal) 📉
‼️ Trade at your own risk ‼️

ME/USDT is currently forming a possible Rising Wedge Pattern on the 4-hour timeframe. A Rising Wedge is typically considered a bearish formation, as it suggests a potential trend reversal after a period of upward movement. This pattern often signals a loss of momentum in an uptrend, increasing the likelihood of a breakout to the downside, especially if the price breaches the lower trendline of the wedge.

At present, support is established at 1.523, while the current price stands at 1.996. If the price fails to hold its current levels and breaks below the wedge, it could indicate further downward movement toward the support level. However, a strong breakout above the wedge could invalidate the bearish bias, leading to continued upside potential.

📊 Refer to the chart below for detailed technical analysis and trend confirmation.