The drop straight down to 0.24 looks very uncomfortable, but the way the price reacts tells a different story. The selling volume is uneven, only appearing for a few minutes and then disappearing. This is a type of price drop driven by speed rather than selling pressure. When this occurs in a prolonged downtrend, it is often a signal of exhaustion.
On the chart, MMT has created a small consolidation area before the drop, following the pattern of 'breaking the note to escape resistance'. If buying pressure maintains around the range of 0.24 to 0.245, the likelihood of a retest at 0.27 is very high because the liquidity above is thin.
MMTUSDT
Perp
0.2176
-2.85%
