🔥 Technical analysis of MMT — Is a price explosion approaching after the decline?
The MMT currency is experiencing noticeable selling pressure over the past few hours, driving it down to the level of $0.2656 after a decline of 8.16%, placing it now in a sensitive area that could be the next starting point or a continuation of the correction. Despite the drop, the chart shows signs of a potential rebound and hidden buying strength preparing to emerge.
📉 Reasons for the price drop of the MMT coin:
1️⃣ Selling pressure after bouncing from the recent peak of $0.2780
The price reached a sharp resistance at $0.2780, from which profit-taking began intensively, causing the start of a downward wave.
2️⃣ Breaking short-term support at $0.2690
The failure of the price to hold above the support of $0.2692 led to an acceleration in the decline towards lower areas.
3️⃣ Dominance of red candles in the 15-minute frame:
The sequence of bearish candles in the short-term frame showed temporary seller control over the market, pushing the price to $0.2635 as the lowest point.
4️⃣ A clear decline in buying volume:
Trading volumes (Volume) have witnessed a noticeable decline compared to previous rising periods, giving the advantage to sellers.
📊 Quick and exciting technical analysis:
🔹 Demand area $0.2635 – $0.2660
The chart reveals a strong demand area near $0.2635, from which the price quickly rebounded, indicating buyer interest in this area.
🔹 Nearby resistance to watch: $0.2723
Breaking this level strongly returns the coin to the upward path.
🔹 Momentum indicators (RSI – MACD):
The RSI is approaching oversold areas → a potential rebound signal.
The MACD shows convergence of its lines → a reversal is likely on the way.
🔮 Upcoming price predictions for the MMT coin:
If the price manages to hold above $0.2635, there is a strong possibility of starting a new upward wave targeting:
🎯 Potential upward targets:
🚀 Target 1: $0.2723
🚀 Target 2: $0.2780
🚀 Target 3: $0.2910 (24-hour peak)
📉 If support at $0.2635 breaks, we may see a re-test of lower levels at $0.2560 before returning to rebound.
🌟 Summary:
The decline of the MMT coin seems more like a healthy correction than a collapse, and the price is now in a smart buying area that could form a new rally towards higher targets.
🔴 Disclaimer:
Cryptocurrencies generally carry high price volatility, and appearing on exchange lists is not a guarantee of returns; the information above is not investment advice, please do your own research.
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