I’m watching $MELANIA as it’s gone through a recent pullback, and this correction is healthy. It allows the market to digest the previous run, shake out weak hands, and build a more sustainable base for the next upward move.

Trade Setup:

Entry Zone: $0.114 – $0.117 — this zone is strong because it coincides with previous support from early December and aligns with the 50% Fibonacci retracement of the last upward swing. If this level holds, it signals buyers stepping in with strength.

Target 1: $0.123 — a minor resistance where price previously consolidated, a reasonable first target.

Target 2: $0.130 — a higher reaction area that has historically capped price before, serving as a secondary target.

Stop Loss: $0.111 — just below the last swing low, protecting against deeper retracements if the zone fails.

This entry zone is significant because price has reacted here multiple times, and the convergence of prior support and retracement levels makes it reliable. They’re building strength in this area, and if this level holds, I expect a controlled move toward Target 1 first, then Target 2 if momentum continues.

I’m watching volume and price action closely to confirm the strength before fully committing.