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The Meme AI price plunged 22% over the last 24 hours to trade at $0.00284588 as of 6:11 p.m. EST, according to CoinGecko,
Meme Ai Price Prediction: Can It Rebound?
Analysing Meme Ai price charts, we see a descending triangle, identified with a series of lower highs forming the upper boundary and a relatively horizontal lower boundary.
This pattern suggests a buildup of selling pressure as buyers fail to push prices higher, resulting in lower highs. The breakout typically occurs in the direction of the existing trend, which, in this case, is downward.
The price action has been consolidating within the triangle, with a noticeable decrease in volatility. This compression indicates a potential breakout as the price approaches the triangle’s apex.
On the right side of the chart, there is a sharp dip followed by a quick recovery, suggesting a potential false breakdown or a retest of the lower boundary. This price action can trap early sellers and lead to a short-term rally.
Looking at other indicators, we see that the Money Flow Index (MFI) is currently at 96.87, overbought territory. This suggests that the recent buying pressure might be unsustainable, and a pullback could be imminent.
The MFI’s overbought condition aligns with the bearish nature of the descending triangle, increasing the probability of a downward breakout. On the other hand, we see that the Average Directional Index (ADX) is at 17.19, indicating a weak trend.
The low ADX value suggests that the market is in a consolidation phase, which is typical before a significant breakout. A rising ADX following a breakout would confirm the strength of the new trend direction.
The Meme AI (MEAI/USDT) chart indicates a potential bearish breakout from a descending triangle pattern. The overbought MFI and the low ADX value suggest that the price could experience increased volatility soon.
Traders should watch for a confirmed breakout below the support level, which could signal a further decline towards the target of 0.0024 USDT. Conversely, a false breakdown and subsequent rise above the upper boundary could invalidate the bearish outlook and suggest a short-term bullish reversal.
4-hour MEME AI/USDT Chart | Source: TradingView
As investors prepare for a further drop in the Meme Ai price, new presale WienerAI (WAI) has secured over $7 million in funding. That early success has been primarily attributed to its unique blend of AI technology and meme coin appeal.
A Worthy Investment?
WAI will shortly release a trading bot that facilitates trading for token holders. Although the concept of a trading assistant driven by AI may initially sound daunting, WAI simplifies it for users regardless of expertise level.
WienerAI provides token holders with a thorough market analysis designed to increase your chances of success when you ask for your next trade suggestion.
This tool significantly improves conventional on-chain trading, which often has problems like long wait times, MEV attacks, and transaction failures.
WienerAI also offers an attractive staking opportunity with annual returns currently pegged at 161%.
According to 99Bitcoins, a well-known cryptocurrency YouTube channel with over 700,000 subscribers, $WAI could 100x after launch.
The current price of WienerAI tokens is $0.000725 each. Buy now if you are interested before a price rise in less than 11 hours.
Buy WAI tokens here using ETH, BNB, USDT, or a bank card.
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