MELI – Watching a potential shift in structureMercadoLibre, Inc.BATS:MELIathletestommy799After a prolonged downtrend from the highs, price is now stabilizing around the $1,700–$1,800 zone, which previously acted as a key demand area. Key observations: • Lower highs are still intact → trend not fully reversed • Strong reaction from the recent lows → buyers stepping in • Volume spike suggests potential accumulation rather than continuation selling What I’m watching next: • Break above $1,900–$2,000 → possible trend shift • Failure to hold $1,700 → continuation to downside Right now, this looks more like a range / early accumulation phase, not a confirmed reversal yet. Patience here is key — let the market prove direction.