As of March 26, 2026, MELI (MercadoLibre, Inc.) is in a falling knife state on the daily chart, with a confidence level of 74%. Key support is at $1600 and key resistance at $1730. Sharp selloff with consecutive red candles; price ~$1639 is below all key EMAs/SMAs; RSI-14 ~36 (weak momentum, not deeply oversold).
Bearish continuation (impulse down likely Elliott wave 3/5 extension) with a brief oversold bounce, then another leg lower; watch for a capitulation-style large red close near lows to mark a tradable swing low.
Bottoming attempt via undercut-and-rally: price sweeps $1600, reclaims it quickly, and mean-reverts toward EMA20/EMA50 (counter-trend wave 2 or wave B) before deciding trend.
Daily close below $1600 would confirm continued falling-knife behavior
Two consecutive daily closes back above $1730 would invalidate the immediate falling-knife call (shift toward bottoming attempt)
Stagger entries around the $1600 pivot (swing-low area), then add on next Fib-style extension leg (approx. 1.272–1.618 of the prior downswing) while avoiding buying too early in a falling knife.
Trim into mean-reversion to EMA50/EMA100 first, then heavier trimming into the congested MA cluster near $2000–$2060; full close into the higher-timeframe supply zone near SMA100/200 region where prior breakdown occurred.
As of March 26, 2026, MELI (MercadoLibre, Inc.) is in a falling knife state on the daily chart with 74% confidence. Sharp selloff with consecutive red candles; price ~$1639 is below all key EMAs/SMAs; RSI-14 ~36 (weak momentum, not deeply oversold).
On the daily timeframe, MELI has key support at $1600 and key resistance at $1730. The most likely scenario (bearish) targets $1600 and $1480, with a revert level at $1730.
MELI (MercadoLibre, Inc.) is currently classified as falling knife on the daily chart, with 74% confidence. Confirmation requires: Daily close below $1600 would confirm continued falling-knife behavior This would be invalidated by: Two consecutive daily closes back above $1730 would invalidate the immediate falling-knife call (shift toward bottoming attempt)
The most likely scenario (bearish) targets $1600 and $1480, with a revert level at $1730. The alternative scenario (bullish) targets $1730 and $1860.
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