- Melania jumped 27.8% as volume rose 49% and Open Interest climbed over 35%—a clear demand spike.
- Longs now dominate with 68% positioning, but $0.53 could become a key resistance for short-term profit-takers.
After struggling on its price charts, hitting a new all-time low, Official Melania Meme [MELANIA] has made a strong upswing.
For the first time in two weeks, the memecoin has recorded gains for three consecutive days. In fact, as of this writing, MELANIA was trading at $0.47.
This marked a 27.8% increase over the past 24 hours.
Over the same period, its volume was up by 49.44%, reaching $124.19 million, while Open interest surged by 35.85%, hitting $49.10 million.
The price pump over the past day signals growing demand and interest after the memecoin reached a bottom.
Source: Coinalyze
Buyers scoop up 402K tokens
As such, buyers are back in the market as they entered to buy the dip.
In fact, we can notice from the chart above, MELANIA buyers have scooped 402k tokens with a positive delta of 140k tokens. This suggests that buyers are dominating the market, with more buy orders.
Sellers exited 261K tokens in profit, but for the first time in days, they were the smaller force.
Source: TradingView
This shift in market behavior is validated by recent bullish crossover on MELANIA token’s RSI.
Looking at the memecoin’s RSI, it surged from 33 to 49.46 at press time. This uptick signals growing buying pressure with buyers starting to outpace sellers.
A further move above 50 would confirm a full trend reversal.
Thus, Stoch RSI has also made another bullish crossover, validating the previous move by the RSI. A move here indicates that MELANIA is seeing strong upward momentum with prices closing at highs.
Is MELANIA set for a sustained uptrend?
According to AMBCrypto’s analysis, MELANIA is experiencing strong bullish sentiment. This bullishness is evidenced by the fact that most traders are now taking long positions.
The Long-Short Ratio showed that 68% of traders held long positions, while only 31% leaned short. This reflects a strong conviction in further gains.
Accompanied by a high Trading Volume and buyers’ bias, it seems MELANIA memecoin is well-positioned for a strong jump on its price charts.
Source: Coinalyze
Therefore, if the current conditions hold and the uptrend continues, Melania will find the next significant resistance around $0.53.
However, the recent gains mean a significant number of investors who have been underwater are now becoming profitable.
If the cohort turns to profit realization, the uptrend could be short-lived, and Melania will retrace to $0.40.