Date: Tue, May 20, 2025 | 03:35 PM GMT
After a rough start to 2025 — where even Ethereum (ETH) crashed 45% in Q1 — the crypto market is finally seeing a solid recovery. ETH has surged by 58% over the last 30 days, triggering a broader bullish wave across major memecoins.
Yet, Official Melania Meme (MELANIA) has been lagging. The token remains down by 98 for the month and still trades nearly 97% below its all-time high (ATH). But there’s a glimmer of hope: a key harmonic pattern forming on the charts suggests a potential bullish reversal may be just around the corner.
Source: Coinmarketcap
Harmonic Pattern Signals More Upside
On the daily timeframe, $MELANIA is forming a Bearish Butterfly harmonic pattern — a setup that often hints at trend reversals once the final leg (CD) completes. Until then, the pattern typically pushes the asset higher with building momentum.
The formation started on April 26, when MELANIA got rejected near $0.575 (point X). It then dropped roughly 45%, bottoming out at $0.31 (point A) on May 19.
MELANIA Daily Chart/Coinsprobe (Source: Tradingview)
From there, the token reversed and began constructing its BC and CD legs. The C point is locked near $0.31, and price is now rising steadily to complete the D leg, currently trading around $0.3440.
According to the harmonic structure, the potential reversal zone (point D) lies near the 1.272 Fibonacci extension of the XA leg — approximately $0.6452. If this plays out, MELANIA could rally by nearly 87% from current levels.
What’s Next for MELANIA?
Before it gets to the D point, MELANIA needs to break above key resistance at $0.5197 — the 0.786 Fibonacci retracement level. A clean breakout above this zone could trigger a run toward $0.6452, the pattern’s ideal target. If bullish momentum continues, the price may even test the 1.618 extension level near $0.7347, depending on how MELANIA reacts at the D zone.
Meanwhile, the only lingering concern is the price movement of Ethereum (ETH), which remains a key driver for sentiment across the memecoin market.
Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.
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