$MEGA 24-hour high, current price 0.05, previous high 0.04935.
After a new high, there are generally three possible moves:
① Pull back to the previous high without breaking below it, then climb to the next level: the healthiest scenario
② Move sideways near the previous high: turnover as the market waits for direction
③ Quickly fall back below the previous high and fail to reclaim it: a bull trap
For now, the price is still above the previous high. Watch whether it follows ① or ②.
After a new high, there are generally three possible moves:
① Pull back to the previous high without breaking below it, then climb to the next level: the healthiest scenario
② Move sideways near the previous high: turnover as the market waits for direction
③ Quickly fall back below the previous high and fail to reclaim it: a bull trap
For now, the price is still above the previous high. Watch whether it follows ① or ②.