Latest Medieval Empires (MEE) Price Analysis

Deep Dive

1. Technical context

MEE’s 7-day RSI of 93.06 (above 70 = overbought) and 21-day RSI of 87.56 show unsustainable momentum. The price rejected the $0.0124 Fibonacci extension level (127.2%) on July 20, aligning with:
- Immediate support at $0.0100 (23.6% Fib retracement)
- MACD histogram cooling from +0.00093 to +0.00085, signaling weakening bullish divergence

The 24-hour trading volume fell 13% to $1.01M, reducing buy-side pressure to sustain gains.

2. Market dynamics

While the broader crypto market rose 0.8% in 24 hours, MEE’s 30-day holder market cap surged 260% (CoinMarketCap), suggesting whales may be trimming positions. High concentration risk persists:
- Top 10 wallets control 81% of supply (CoinMarketCap)
- 24-hour turnover of 0.17 signals shallow order books

The July 20 Immutable Passport partnership (Medieval Empires) failed to sustain momentum, hinting at “sell the news” behavior after a 312% monthly gain.

Conclusion

MEE’s dip reflects natural profit-taking after parabolic moves, amplified by low liquidity. Watch the $0.0100 Fib level for stability and RSI cooling below 70 for renewed momentum.
Could MEE’s high volatility persist given its concentrated ownership structure?