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The post <a href="https://coinpedia.org/price-analysis/meme-ai-price-under-contraction-eyes-breakout-run-to-0-20/">MEME.AI Price Under Contraction Eyes Breakout Run To $0.20</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
The second week of March was notably bearish for the crypto market, as the leading digital plunged below the $70000 mark. The new correction sentiment took a significant toll on meme coins, including <a href="https://coinpedia.org/price-prediction/memeai-price-prediction/">Meme.AI</a>, which showcased an aggressive retracement in a 4-hour price chart. 
From its new All time High of $0.04, the Meme.AI price plunged over 83% to form a low of $0.0065. 
<figure class="wp-block-image size-large">
 <img decoding="async" width="1024" height="509" src="https://image.coinpedia.org/wp-content/uploads/2024/03/18142330/image-154-1024x509.png" alt="" class="wp-image-279633" srcset="https://image.coinpedia.org/wp-content/uploads/2024/03/18142330/image-154-1024x509.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/03/18142330/image-154-300x149.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/03/18142330/image-154-768x382.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/03/18142330/image-154-1536x764.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/03/18142330/image-154-150x75.png 150w, https://image.coinpedia.org/wp-content/uploads/2024/03/18142330/image-154.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure> 
Source: <a href="https://www.tradingview.com/x/e5PwIBgq/">Tradingview</a> 
Amid the recent memecoin Mania, the MEME.AI witnessed a massive inflow, pumping it to a new All-time High of $0.04. However, this rally was short-lived as the over-exhausted buying force and new correction phase in tandem Bitcoin price triggered a massive reversal. 
The bearish downturn evaporated over the majority of gains the memecoin buyers accumulated in the last rally and plummeted the price below 78.6% FIB level at $0.009. Such a large degree of retracement usually indicates weakness in buyers’ conviction. 
However, with a 58% jump in the last 48 hours, the MEME.AI price reclaimed the $0.009 support and developed a well-known reversal pattern called inverted head and shoulder. 
Also Read The:<a href="https://coinpedia.org/price-analysis/wif-price-rises-in-a-channel-with-bulls-on-high-alert-eyes-5/"> WIF Price Rises In A Channel With Bulls On High Alert, Eyes $5!</a> 
Technical indicators: 
MACD indicator: A bullish crossover between MACD(blue) and Signal(pink) hints at a renewed recovery in this asset. Thus, the chances of a recovery rally in the meme coin are on the rise. 
Bollinger Band: With the ongoing correction, the meme coin is in the contraction phase. However, the recent reversal challenges the overhead Bollinger band, projecting a potential breakout rally. 
EMA: A recent price jump above crucial EMAs(20, 50, and 100) reflects a bullish sentiment returning among traders. 
Did you know that: <a href="https://coinpedia.org/price-analysis/amidst-the-reddit-ipo-craze-moon-and-donut-tokens-prep-for-a-bull-run/">Amidst The Reddit IPO Craze, MOON and DONUT Tokens Prep For A Bull Run!&nbsp;</a> 
<h2 class="wp-block-heading" id="h-will-meme-ai-price-hit-0-20">Will MEME.AI Price Hit $0.20?</h2> 
The MEME.AI coin currently trades at $0.013 and provided a bullish breakout of the inverted Head and shoulder pattern. Sustaining this break-out could push the coin price up 45% to hit the potential target of $0.0187. Thus, the chances of the MEME.AI price hitting the $0.20 psychological mark are on the positive side.&nbsp; 
If the breakout fails, the sellers may strengthen their grip and tumble the coin below $0.0065.

MEME.AI Price Under Contraction Eyes Breakout Run To $0.20

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