Market Overview for Memecoin/Tether (MEMEUSDT) – 2025-11-03

• Price declined from 0.001505 to 0.001473 amid rising bearish momentum and oversold RSI signals.
• Volatility expanded during the 23:45 ET spike, with a bullish rejection at 0.001535.
• Daily 20-period MA crossed below 50-period MA, suggesting bearish bias into the next 24 hours.
• Downtrend intensified post-04:00 ET, with support clustering around 0.001450–0.001440.
• Turnover surged to $139.65M, highlighting growing participation but lack of buying follow-through.

Price Action and Key Levels

Memecoin/Tether (MEMEUSDT) opened at 0.001497 on 2025-11-02 at 12:00 ET and closed at 0.001473 on 2025-11-03 at 12:00 ET. The pair reached a high of 0.001550 and a low of 0.001365 within the 24-hour window. The total volume traded was 3,358,024.09, with a notional turnover of $139.65 million. Price action showed a bearish reversal after a late-night bullish spike, with key resistance around 0.001505 and critical support near 0.001450.

Support and Resistance

Key support levels include 0.001450–0.001440 and 0.001430, with the latter acting as a potential oversold rebound area. Resistance is clustered at 0.001475, 0.001505, and 0.001535, the latter of which has acted as a rejection level during the 23:45 ET rally. A bullish breakdown above 0.001505 could reignite short-term optimism but appears unlikely given the current bearish momentum and volume profile.

Patterns and Volatility

A notable bearish engulfing pattern formed during the 04:00–05:00 ET window, confirming the continuation of the downtrend. Bollinger Bands showed a moderate expansion during the early morning sell-off, with price nearing the lower band. This suggests increased volatility and potential for a mean reversion or further support testing below 0.001450.

MACD and RSI

The MACD line turned negative during the 05:00 ET hour and remained below the signal line, reinforcing the bearish momentum. RSI readings dropped to oversold territory (below 30) around 08:00 ET, yet price failed to reverse meaningfully, indicating weak buying interest. This divergence could signal a continuation of the downtrend rather than a reversal, especially if volume fails to confirm any bounce above 0.001475.

Volume and Turnover Insights

Volume surged to 285,272,450.0 at 23:45 ET amid a bullish push toward 0.001535. However, this was followed by sharp distribution and declining follow-through, suggesting profit-taking. The highest notional turnover occurred around 15:30 ET, with a $263.04 million trade at 0.001449, likely reflecting a large institutional or algorithmic participant stepping in. This event coincided with a breakdown below 0.001500 and a subsequent bearish continuation, signaling a lack of conviction in any short-term recovery.

Fibonacci Retracements

Fibonacci levels for the 0.001550–0.001365 move highlight key retracement levels at 0.001433 (38.2%) and 0.001472 (61.8%). Price appears to have found temporary support near the 61.8% level during the 08:00–09:00 ET window but failed to hold. A sustained move above 0.001472 would validate a short-term recovery, but the broader Fibonacci structure remains bearish with the 0.001433 level in play for the next 48 hours.

Backtest Hypothesis

The backtest aimed to evaluate a 14-period RSI-based strategy for MEMEUSDT, triggering long entries in oversold conditions (RSI < 30) and exits in overbought conditions (RSI > 70). However, the data request failed due to an error retrieving the RSI indicator, likely due to the symbol's unavailability or illiquidity in the data source. As a fallback, a similar strategy could be tested on a more liquid meme token like PEPEUSDT or SHIBUSDT. Alternatively, confirming the correct ticker (e.g., MEMEUUSDT or MEME/USDT on Binance or OKX) may resolve the issue and allow retesting. The current price dynamics suggest that any RSI-driven entry should be tested with a stop-loss below key support levels to mitigate volatility risk.