ME +182.09% in 24 Hours Amid Sudden Surge

On SEP 2 2025, ME rose by 182.09% within 24 hours to reach $0.647. This sharp one-day increase was a dramatic reversal against the broader downward trend observed over the past several months. Despite the recent 680.56% drop over the last week and a 44.51% decline over the past month, ME has shown a surprising ability to rally in short timeframes, capturing the attention of traders and analysts alike.

Technical indicators show mixed signals for the near-term outlook. The Relative Strength Index (RSI) has crossed into overbought territory, while the Moving Average Convergence Divergence (MACD) is showing a narrowing histogram and a bullish crossover. These readings suggest the possibility of a short-term momentum shift, though traders are advised to remain cautious given the highly volatile nature of the asset and its steep drawdowns in the recent past.

Despite the volatility, some traders are interpreting the 24-hour spike as a potential bottoming pattern. The volume during the surge was significantly higher than the average over the past month, which is often seen as a positive sign in technical analysis. However, the long-term bearish trend remains intact, with ME down 7841.06% from its one-year price level, indicating structural issues that remain unaddressed.

Backtest Hypothesis

A proposed backtesting strategy involves entering long positions on ME when the RSI falls below 30 and a 20-day moving average crosses below a 50-day moving average, signaling a potential oversold and bearish divergence. The strategy would then exit the position when the RSI rises above 70 or the moving averages realign in a bullish direction. Historical data from recent months suggests that this combination could capture short-term rebounds during a prolonged downtrend, though its long-term viability remains unproven due to the asset’s high volatility.