- MELANIA token remains down 98% for the month and trades 97% below its all-time high despite the broader crypto recovery where Ethereum surged 58% in 30 days.
- A Bearish Butterfly harmonic pattern is forming on MELANIA's daily chart, with the structure starting from a rejection at $0.575 on April 26 and bottoming at $0.31 on May 19.
- The harmonic pattern suggests a potential reversal target near $0.6452 (1.272 Fibonacci extension), which would represent an 87% rally from current levels around $0.3440.
- MELANIA needs to break above key resistance at $0.5197 (0.786 Fibonacci retracement) to trigger the upward move toward the pattern's target, with extended upside possible to $0.7347.
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.
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.
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.
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