Market Overview for Memecoin/Tether (MEMEUSDT) on 2025-10-04

• Price action opened at $0.002554 and closed at $0.002461, forming a bearish trend with a 15-minute low of $0.002424.
• The 24-hour volume was 613,407,032.0, while turnover amounted to $1,567.27, indicating moderate activity amid declining prices.
• RSI levels signaled oversold conditions during the latter half of the session, but price failed to recover strongly.
• A key bearish engulfing pattern formed near $0.002550, and Bollinger Bands showed a volatility expansion during the selloff.
• Fibonacci retracement levels at 38.2% and 61.8% aligned with major support areas during the pullback.

The price of Memecoin/Tether (MEMEUSDT) opened at $0.002554 on October 3, 2025, 12:00 ET, and closed at $0.002461 on October 4, 2025, 12:00 ET, following a bearish 24-hour trend. The session’s high was $0.0026, and the low was $0.002424. Total volume reached 613,407,032.0, and turnover was $1,567.27, indicating sustained selling pressure.

Structurally, price action revealed a key bearish engulfing pattern near $0.002550, followed by a sharp decline into the $0.002460–0.002470 support zone. This area coincided with the 61.8% Fibonacci retracement level from the $0.002424 to $0.002550 swing. A doji formed near $0.002530, signaling indecision and potential exhaustion in the bearish move. Resistance levels are now at $0.002550 and $0.002575, while the immediate support sits at $0.002460 and $0.002440.

The 15-minute 20-period MA (SMA) dipped below the 50-period MA, forming a bearish crossover, while the daily 50-period MA crossed below the 100-period MA, confirming a downtrend. MACD remained bearish, with the line staying below the signal line and histogram bars showing decreasing bearish momentum. RSI hit oversold levels near 25 during the late session but failed to produce a meaningful rebound, suggesting a lack of buying interest.

Bollinger Bands widened as price dropped into the lower band, indicating increased volatility and a potential consolidation phase. A contraction is likely if price stabilizes near the 61.8% Fibonacci support. Volume and turnover spiked during the early sell-off but declined afterward, which may point to exhaustion or a lack of follow-through in the bearish move. Divergence between volume and price was minimal, supporting the integrity of the bearish bias.

The backtest hypothesis leverages these technical signals to create a short-term trading strategy based on bearish engulfing patterns, oversold RSI levels, and Fibonacci retracement support levels. The strategy would enter a short position on confirmation of a bearish engulfing pattern, with a stop-loss placed above the high of the pattern and a target aligned with the 61.8% Fibonacci level. RSI below 25 would act as a confirmation filter to ensure that the sell-off is oversold but not yet exhausted.

Additionally, the strategy would exit the position if price breaks above the 50-period MA or if MACD turns positive, both indicating a potential reversal. Volume analysis would be used to monitor for divergence and to confirm the strength of the bearish move. This method may appeal to traders seeking to capture short-term momentum in a volatile asset class like MEME.