* Μιχέλε (Michéle): This is a fairly common and straightforward transliteration, capturing the pronunciation relatively well.
* Μιχαέλε (Michaéle): This version uses "Μιχαήλ" (Michael) as a base, which is closer if you consider Michele as a variant of Michael.
The best option depends on context and preference. The first option is generally more practical for everyday use.