Memecoin/Tether (MEMEUSDT) Market Overview for 2025-11-12

Summary
• Price opened at $0.001614 and closed at $0.001577, down from a high of $0.00163.
• 24-hour volume reached $342.57M, with total turnover at $545.11M.
• Volatility expanded through 21:00 ET, followed by a consolidation phase.

The Memecoin/Tether (MEMEUSDT) pair opened at $0.001614 on 2025-11-11 at 12:00 ET and closed at $0.001577 by 12:00 ET on 2025-11-12. The 24-hour high and low were $0.00163 and $0.001471, respectively, with total volume amounting to 342.57 million units traded and a notional turnover of $545.11 million.

Structure & Formations

The price action showed a bearish trend with a key support level forming around $0.001550–0.001560 and a resistance at $0.001600–0.001610. A bearish engulfing pattern was visible at 21:00 ET, followed by a potential hammer reversal around 05:00 ET, suggesting a pause in the downtrend. A doji at 07:00 ET signaled indecision after the initial breakdown.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages both remained above price, indicating bearish momentum. The daily chart saw the 50-day MA at $0.001605, with price below it, suggesting ongoing bearish bias. The 200-day MA at $0.001620 further reinforces bearish sentiment.

MACD & RSI

MACD remained bearish with the line and histogram both below the signal line. RSI dipped to 32 at 06:00 ET, signaling oversold conditions, but failed to produce a rebound above 40, suggesting continued selling pressure. The RSI/Price divergence was not significant over the 24-hour window.

Bollinger Bands

Volatility expanded significantly between 20:00 and 22:00 ET, with price reaching the lower band. The bands have since contracted, indicating a potential consolidation phase. Price currently rests near the middle band, suggesting a possible continuation of the bearish bias if the lower band breaks.

Volume & Turnover

Volume spiked to $59.96M at 21:00 ET, aligning with the breakdown of $0.001600 support. Turnover reached a high of $99.23M at 16:15 ET, coinciding with a sharp drop to a 24-hour low of $0.001471. A divergence was noted at 05:00 ET, with volume declining despite a price rebound, suggesting weak follow-through.

Fibonacci Retracements

On the 15-minute chart, the 61.8% Fib level at $0.001575–0.001585 acted as a magnet for price during the 10:00–11:00 ET consolidation phase. On the daily chart, the 38.2% retracement at $0.001545 offered resistance before a breakdown to the 50% level of $0.001560.

Backtest Hypothesis

To evaluate a potential event-driven trading strategy, we can define a support-level break as the price closing below the most recent 15-minute swing low (e.g., the lowest price in the past 240 minutes). Using this definition, a backtest could evaluate the performance of a short entry and stop-loss placement on the swing high of the prior 15-minute candle. This method would align with the bearish engulfing and doji patterns observed during the 21:00 and 07:00 ET sessions. A 1% stop-loss or 2:1 risk/reward target could be tested on this structure to assess historical efficacy.