$M is a bearish rejection setup after the recent meme-sector rally cooled down.
The latest driver is profit-taking after MemeCore’s strong recent run. Price is trying to bounce from the $3.33 area, but the 4H structure remains heavy: MA30 is still above price, MACD is negative, RSI is weak, and the bounce is now pushing into the $3.54–$3.62 resistance zone.
Bias: Short
Entry: $3.54–$3.62
SL: $3.74
TP1: $3.36
TP2: $3.21
TP3: $2.95
Late longs are buying the recovery candle. Sellers are using it as liquidity.