$M has just made a spectacular reversal, soaring over 15% (from $1.37 to $1.60) in just 24 hours. The breakout from the symmetrical triangle has caught the Bears off guard, triggering a classic Short Squeeze.
🔹 Short Order Liquidation
The Bears betting on a price drop have been wiped out. As the price crept up, the forced liquidation of Short positions created a buying pressure loop, pushing the price higher.
The MACD indicator crossing upward confirms momentum shift, marking the end of the downtrend in January.
🔸 Confidence & Acknowledgment
Open Interest (OI) is rising along with volume and price. This holy trinity confirms the genuine belief of traders opening new Long positions rather than just closing Shorts.
$M has entered the Top 10 Spotlight of Binance Alpha. This recognition is an important fundamental catalyst, increasing visibility and fueling speculation about future listings.
🔹 The breakout has fundamental backing.
Price Increase Breakout.
The path is wide open $M needs to overcome minor resistance at $1.70 on lower timeframes. Once cleared, the main structural target will be $2.50.
MemeCore is breaking out with increasing OI and heat from Binance Alpha. Will you ride the squeeze wave up to $2.50, or sell at the resistance of $1.70?
News and research information from Trading Insight is for reference only and not investment advice. Please read carefully before making any decisions.