Market Overview for Memecoin/Tether (MEMEUSDT) - 2025-09-20

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• Price surged 2.24% over 24 hours, closing near a multi-day high at $0.002613 after a late-night rally.
• Volume spiked 12x during the 15:00–15:45 ET window, signaling strong buying pressure as price broke above prior resistance.
• RSI entered overbought territory (75), suggesting caution amid heightened momentum and potential short-term correction.
• Bollinger Bands widened, confirming volatility expansion as price traded near +2σ during the bullish breakout.
• Engulfing and morning star patterns emerged in the late ET session, reinforcing the bullish bias ahead of key levels.

The price of Memecoin/Tether (MEMEUSDT) opened at $0.002560 at 12:00 ET on 2025-09-19 and closed at $0.002613 at 12:00 ET on 2025-09-20. The 24-hour range was $0.002537 to $0.002649, with a high of $0.002649. Total volume amounted to 3,075,797,200 MEME, and total turnover reached $786,253 USD. The pair exhibited a strong bullish bias, particularly in the final four hours of the window.

Over the last 24 hours, MEMEUSDT tested key support levels at $0.002560 and $0.002542, with notable bullish candlestick patterns emerging after retests. A morning star pattern formed near $0.002560, signaling a potential reversal from bearish to bullish momentum. At the same time, a bullish engulfing pattern confirmed the breakout above $0.002600 on 2025-09-20 at 15:00 ET. The formation of these patterns was supported by a significant volume increase and a strong close near highs.

On the 15-minute chart, the 20-period moving average crossed above the 50-period at 04:15 ET, reinforcing the bullish momentum. The MACD histogram expanded into positive territory during the late ET session, with the MACD line crossing above the signal line at 15:00 ET. The RSI reached 75.3 at 15:30 ET, indicating overbought conditions and a potential pause or pullback in the near term. Additionally, price spent much of the session outside the +1σ of the Bollinger Bands, with a sharp expansion noted at 15:00–16:00 ET. This volatility expansion often precedes consolidation or trend continuation, depending on order flow.

The 15-minute Fibonacci retracement levels for the $0.002542–$0.002649 swing show price currently at 61.8% (0.002613), which is a key psychological and potential consolidation level. A break above 61.8% would target 78.6% at $0.002636, while a retest of 38.2% at $0.002584 could confirm short-term support.

The backtesting strategy suggests a bullish breakout trade on 15-minute setups, using engulfing and morning star patterns combined with volume expansion and MACD crossover as entry triggers. Traders are advised to enter at the close of the pattern candle, with a stop loss placed just below the pattern’s support and a take profit at 61.8% and 78.6% Fibonacci levels. Given recent behavior, this strategy may yield favorable risk-reward ratios, though traders should remain cautious of overbought RSI and volatile conditions.