Market Overview: Memecoin/Tether (MEMEUSDT) – 24-Hour Analysis as of 2025-10-12

• MEMEUSDT opened at $0.001702, reached $0.001808, and closed at $0.001797 amid a volatile 24-hour session.
• A sharp rally emerged after 15:00 ET, pushing price above $0.001750, signaling strong bullish momentum.
• Volume spiked significantly during the 15:00–16:00 ET period, with over 44 million units traded.
• RSI surged into overbought territory, while MACD showed bullish divergence with strong histogram expansion.
• Bollinger Bands expanded late in the session, suggesting heightened volatility and potential continuation.

Price Action and Turnover

Memecoin/Tether (MEMEUSDT) opened at $0.001702 on October 11 at 12:00 ET, and over the next 24 hours, it reached a high of $0.001808 and a low of $0.001571 before closing at $0.001797. The pair traded over 381 million units in volume, with a total notional turnover of approximately $686,000. Price action accelerated after 15:00 ET, with a powerful breakout above $0.001750, suggesting a shift in short-term sentiment.

Structure & Formations

The 15-minute chart reveals a key support level at $0.001644 and a resistance level at $0.001728. A notable bullish engulfing pattern formed between 15:00 and 16:00 ET, confirming a reversal from bearish to bullish momentum. A doji formed near $0.001603, indicating indecision, but was quickly rejected to the upside. Price appears to be forming a bullish continuation pattern as it holds above key support levels.

MACD & RSI

MACD turned bullish around 15:00 ET with a strong histogram expansion, aligning with the price breakout. The RSI surged above 70, entering overbought territory, indicating strong momentum. However, the RSI has yet to show signs of a top, suggesting the rally could continue in the short term. Divergence was not observed in the last hour, which supports the idea of a potential continuation.

Bollinger Bands and Volatility

Bollinger Bands widened significantly after 15:00 ET, signaling a surge in volatility. Price traded above the upper band, indicating a strong move in a bullish direction. A contraction in the bands was observed early in the session, suggesting a period of consolidation before the breakout. The current positioning of price above the upper band reinforces the potential for further upside.

Volume and Turnover Analysis

Volume surged sharply after 15:00 ET, with the largest single 15-minute volume spike occurring at $0.001728, confirming the breakout. Notional turnover also rose in tandem, indicating strong conviction from large participants. A divergence in volume and price was not observed, which supports the reliability of the move. Continued volume strength may be needed to sustain the rally.

Backtest Hypothesis

A potential strategy for MEMEUSDT is to enter a long position when price breaks above the upper Bollinger Band on the 15-minute chart, confirmed by a bullish MACD crossover and RSI above 50. A stop-loss could be placed below the nearest support level (e.g., $0.001665), with a target set at 1.618 Fibonacci extension of the recent swing. Historical data shows this setup could yield a favorable risk-reward profile, particularly in high-volatility environments like the current one.