MEW token soars nearly 20% following Binance Alpha listing

MEW gathered up to 20% after the outbreak of his Downtrend of several months, after the mention on Binance Alpha.

According to Crypto.news, Cat reached an intraday high of $ 0.311 on 2 April in A Dogs World (Mew), the highest level in six weeks and about 40% above its weekly lows. Market capitalization was at $ 272 million, while the daily trade volume in the last day doubled at $ 176 million.

Further demand among his derivatives traders has also risen. According to Coinglass factsThe open interest rose by 40% for the past 24 hours and was at the time of more than $ 45 million. Moreover, the weighted financing percentage yesterday was put from -0.0076% to 0.0017%, which shows that more traders are starting to lean Bullish.

MEW collected after one offer On Binance Alpha, a platform within the Binance ecosystem that serves as a launch platform for emerging and experimental tokens.

Although it is not a complete exchange list, Binance Alpha offers exposure and liquidity at an early stage, and strong performance can release the way for a potential list on the most important exchange of Binance.

Because the community now largely anticipates a potential list on the world’s largest crypto exchange, the weighted social sentiment around MEW is largely positively reversed, with the trending with cat theme on X from the moment of press.

Traders believe that MEW has more room to walk in the short term. According to For pseudo-anonymous trader Livercoin Mew could continue to collect up to $ 0.0033 and higher now it has been tested above the most important resistance level of $ 0.0030.

Colleague trader GemXBT placed The target slightly higher at $ 0.0035.

Mew Price Analysis

Technical indicators seem to favor the bullish outlook.

On the 1-day/USDT price diagram, Mew broke from a falling wig pattern that has been formed in the last 4 months. A break over such a pattern is very bullish in technical analysis and can lead to persistent winnings in the long term.

The Bull Bear Power indicator has risen since March 21, which suggests that bulls take control and push bears to the sidelines. Moreover, the Chaikin Money Flow Index in the Green, which shows that there is more buying pressure than selling, a good sign for continuous power.

That is why the following likely target for Mew in sight is the psychological resistance level of $ 0.004, a break above which could push it to its annual high point of $ 0.007.