Market Overview for Memecoin/Tether (MEMEUSDT) on 2025-11-04

Summary
• Price surged from $0.001367 to $0.001441 before consolidating around $0.001385.
• Strong bullish momentum early in the session, followed by bearish retracement and consolidation.
• Turnover increased significantly during the morning rally.

Memecoin/Tether (MEMEUSDT) opened at $0.001367 on 2025-11-03 12:00 ET, reached a high of $0.001441, and closed at $0.001385 on 2025-11-04 12:00 ET, touching a low of $0.001367 during the 24-hour period. The total trading volume was 698,832,869.0, with a total turnover of approximately $963,745. The session featured a strong initial breakout followed by consolidation and a slight bearish pullback.

Structure & Formations

The session saw a strong breakout from a key support zone at $0.001390, pushing price above the 15-minute high of $0.001441. Price then consolidated into a bearish channel, forming potential bearish engulfing patterns and a doji at the $0.001426 level. Key resistances appear to be at $0.001441 and $0.001390, while the $0.001367 level acted as a strong support.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages both sloped upward early in the session, confirming the bullish bias. However, as the price pulled back, the 20SMA crossed below the 50SMA, forming a potential death cross. On the daily chart, the 50-period MA sits at $0.001388, and the 200-period MA at $0.001375, indicating a possible retest of the 50-day level ahead.

MACD & RSI

The MACD crossed into positive territory during the morning rally but began to diverge from price as the bearish retracement set in, hinting at potential exhaustion. RSI surged above 65 during the rally, reaching overbought territory, and has since corrected to a neutral level of 54. This suggests the price may find support or consolidate before another directional move.

Bollinger Bands

Price broke out of a tight Bollinger Band contraction in the early hours, reaching the upper band at $0.001441. As the session progressed, price retreated within the bands, indicating reduced volatility. A potential retest of the upper band or a break of the lower band could signal a new directional shift.

Volume & Turnover

The most significant volume spike occurred during the 17:15–17:30 ET period, where turnover accounted for nearly 33% of the total. As price pulled back, volume declined, suggesting lack of conviction in the bearish move. A divergence between volume and price during the pullback indicates traders should watch for signs of renewed buying interest.

Fibonacci Retracements

Applying Fibonacci levels to the morning high of $0.001441 and the post-breakout low at $0.001367, the 38.2% and 61.8% retracement levels sit at approximately $0.001393 and $0.001414. Price currently appears to be consolidating near the 38.2% level, with potential for a retest of the 61.8% level before a longer-term breakout.

Backtest Hypothesis

The Bullish Engulfing pattern was flagged for potential use in a backtesting strategy, although it could not be automatically retrieved due to a symbol recognition error. If manually supplied, this pattern could be tested for effectiveness in capturing short-term reversals on the 15-minute chart. For now, traders should note the pattern’s potential relevance around key support levels such as $0.001367 and $0.001390.