Latest Mey Network (MEY) Price Analysis

Deep Dive

1. Overheated Technicals (Bearish Impact)

Overview: MEY’s 7-day RSI hit 98.56 (14-day: 97.52) – the highest possible reading is 100 – indicating extreme overbought conditions. Prices typically correct when RSI exceeds 70.

What this means: The 374% 30-day rally likely triggered profit-taking as traders locked in gains. The price now tests critical Fibonacci support at $0.1187 (23.6% retracement level). A break below could target $0.1008 (38.2% level).

What to watch: Whether MEY holds above $0.1187 – failure here might extend losses to $0.10.

2. Low Liquidity (Bearish Impact)

Overview: MEY’s 24h trading volume plunged 50% to $1M, while turnover (volume/market cap) sits at 2.93% – below the 5% threshold for healthy liquidity.

What this means: Thin order books magnify price swings. The sell-off likely accelerated as limited buy-side liquidity failed to absorb profit-taking orders.

3. Market-Wide Caution (Mixed Impact)

Overview: The crypto fear/greed index sits neutral (41/100), with altcoin season index at 53 – below the 75 threshold for “alt season.”

What this means: Traders show reluctance to chase high-beta assets like MEY amid flat market sentiment. Bitcoin dominance rose slightly to 57.86%, suggesting capital preservation strategies.

Conclusion

MEY’s pullback appears driven by technical rebalancing after parabolic gains, exacerbated by illiquid markets and cautious altcoin sentiment. Key watch: Can MEY stabilize above $0.10 – a psychological support level – to maintain its 30-day uptrend structure?

Deep Dive

1. Technical Breakout (Bullish Impact)

Overview: MEY’s price broke above the 161.8% Fibonacci extension level ($0.134) with a 24h RSI of 94.92—far above the 70 “overbought” threshold. The MACD histogram (+0.0051675) confirms bullish momentum.
What this means: While breakouts often attract short-term traders, such extreme RSI levels historically precede corrections. For example, MEY’s 7-day SMA ($0.06) now sits 120% below the current price ($0.132), stretching valuations.
What to watch: A close below $0.134 (Fibonacci 161.8%) could trigger profit-taking, while holding above may extend gains.

2. Supply Dynamics (Mixed Impact)

Overview: Only 284.3M MEY (12.4% of 2.3B total supply) circulates. The 24h volume-to-market-cap ratio (5.42%) suggests high liquidity but also vulnerability to large trades.
What this means: Thin circulating supply allows rapid price appreciation on volume spikes (24h volume +236.06%), but unlocks or sell-offs could reverse gains abruptly.

3. Market Sentiment (Neutral Impact)

Overview: The altcoin season index rose 23.81% monthly to 52 (neutral), while Bitcoin dominance dipped slightly to 57.87%. MEY’s rally outpaced the broader crypto market (+0.39% 24h).
What this means: MEY’s move appears coin-specific rather than sector-driven, reducing sustainability risks from macro headwinds but lacking supportive narratives.

Conclusion

MEY’s surge reflects technical momentum and supply constraints, but overbought signals and low float heighten near-term volatility. Key watch: Can MEY hold above $0.134 Fibonacci resistance, or will profit-taking reverse gains?