MELANIA's value has hit rock bottom, plummeting by 70% in the past month, reflecting a strong bearish sentiment. Despite unlocking about $39 million recently, MELANIA's price remained unaffected, underscoring the lack of market attention towards the cryptocurrency.

Technical indicators like its RSI at 38.5 and BBTrend at -13.1 reveal a sustained bearish trend and continuous selling pressure. If the downward trend persists, MELANIA might drop below $1. Conversely, a bullish rally could see it testing resistance at $1.39 and potentially rising to $1.61.

With the RSI firmly below 50 for almost a week, MELANIA's trading at all-time lows showcases the lack of demand and prevailing negative sentiment. The sustained low RSI reflects ongoing weakness, indicating that sellers are dictating the price action, keeping MELANIA under pressure.

The BBTrend has been in negative territory for over a day, currently at -13.1, indicating strong bearish momentum. Considering its significant drop from all-time highs, further downwards movement seems probable if selling pressure continues.

At a market cap of $665 million, MELANIA has plummeted over 90% from its peak, signaling extreme bearish sentiment and minimal interest from buyers. The current downtrend suggests a hesitancy from investors, potentially leading to a further decline below $1.

While a potential bullish reversal could challenge the resistance at $1.39 and aim for $1.61, the prevailing technical indicators imply caution as the downward momentum remains dominant.