Market Overview for Memecoin/Tether (MEMEUSDT) on 2025-11-07

Summary
• Memecoin/Tether surged toward 0.001642 before consolidating near 0.001539.
• Momentum turned bullish in the second half, with RSI and MACD aligning with upward bias.
• Volume spiked dramatically during the 15:30–16:30 ET window, confirming strength in the breakout.

24-Hour Price Summary

At 12:00 ET–1, MEMEUSDT opened at 0.001372, and over the next 24 hours, it reached a high of 0.001761 before closing at 0.001758 at 12:00 ET. The pair traded as low as 0.001361 during the session. Total volume amounted to 2.48 billion, with notional turnover exceeding $4.34 million, signaling a strong and volatile day for the pair.

Structure and Moving Averages

The price structure showed a clear upward bias, with a key resistance level forming near 0.001640 and a support level around 0.001450. On the 15-minute chart, the 20-period and 50-period moving averages were both trending higher, aligning with the bullish momentum. The daily 50-period moving average crossed above the 100-period line, suggesting a potential continuation of the uptrend.

Momentum and Volatility

The RSI surged from neutral to overbought territory in the final six hours, peaking at 76, which suggests strong bullish conviction. MACD crossed into positive territory, confirming the bullish trend. Bollinger Bands expanded significantly as the price moved upward, indicating rising volatility. Price action remained above the upper band for a period, reinforcing the strength of the breakout.

Volume and Turnover

Volume spiked dramatically after 15:30 ET, with the candle at 15:30–16:00 ET showing a turnover of $4.34 million. The surge in volume coincided with the price breaking above 0.001640 and forming a bullish engulfing pattern, confirming the strength of the move. Notional turnover and volume aligned, indicating no divergence in sentiment.

Fibonacci Retracements

Applying Fibonacci retracements to the recent 15-minute swing from 0.001458 to 0.001640, the price found initial support at the 61.8% level (0.001554) and closed near the 76.4% extension (0.001726). On a broader scale, the daily move from 0.001361 to 0.001642 saw the price consolidating near the 61.8% retracement level (0.001523), which could serve as a potential pivot point for the next 24 hours.

Backtest Hypothesis

Given the recent momentum and the alignment of key indicators, a potential backtesting strategy could focus on RSI-based signals for MEMEUSDT. A hypothetical approach would involve entering long positions when RSI crosses above 50 and exits when RSI falls below 40, or vice versa for shorting, depending on trend alignment. Historical RSI data for the pair could be analyzed for such overbought/oversold conditions and their subsequent price reactions. This aligns with the current RSI surge observed on 2025-11-07, where an overbought signal could indicate a high-probability continuation or pullback.