$MMT /USDT is clearly in a short-term momentum phase, but it is starting to flirt with overextension. Price is trading above all major EMAs, with the 7 EMA leading well above the 25 and 99, which confirms bullish control on the lower timeframes. The move from the 0.178 area to above 0.207 happened fast, and that speed matters. It tells us this rally is driven more by urgency than by steady accumulation. Volume is elevated but not exploding, which suggests buyers are active but not fully convinced yet. That is usually where sharp pullbacks are born.
The current zone between 0.209 and 0.211 is the real test. Price already hesitated near the 24h high, and that hesitation is not random. This level sits above short-term value and invites profit-taking. If MMT fails to hold above the 7 EMA around 0.204, expect a deeper retrace toward the 0.199 to 0.194 region, where the 25 EMA and prior structure sit. A drop into that zone would not break the trend, but it would expose how weak-handed this rally really is. Strong trends welcome pullbacks. Fragile ones collapse when they get them.
If bulls manage a clean hold above 0.205 and push through 0.211 with volume expansion, then continuation toward the mid 0.22s becomes realistic. Until that happens, this is a momentum trade, not a conviction trade. Chasing here assumes strength that the chart has not fully proven yet. The trend is up, but it is standing on thin legs.
