$M Analysis : MemeCore Holds Onto Weekend Gains
MemeCore is trading around $1.50 at the time of writing on Monday, with the immediate target being to test the 50-day EMA at $1.70. Sunday's 10% gain helped the M token avoid a deep plunge to the psychological $1.00 mark, temporarily stabilizing the short-term price structure.
In a positive scenario, if MemeCore successfully conquers the $1.70 resistance level, the price will likely face selling pressure at $2.00 before heading towards the R1 pivot point at $2.56.
However, the current technical picture is still not entirely convincing. The RSI remains around 46, below the neutral threshold, reflecting cautious buying pressure. Simultaneously, the MACD is approaching the risk of crossing below the signal line, indicating weakening upward momentum.
Conversely, if MemeCore reverses and corrects, the $1.00 support level will be crucial. Losing this area could cause the price to slide further towards the S1 pivot point at $0.73, increasing the risk of a short-term decline.
