Market Overview for Memecoin/Tether (MEMEUSDT)

• Price tested key resistance at 0.002670 before pulling back
• High-volume consolidation in 0.002635–0.002665 range suggests indecision
• RSI shows moderate momentum with no overbought/oversold signals
• Volatility expanded with Bollinger Band width peaking near 0.002650
• Turnover surged during late ET breakouts, confirming price action

Market Summary

At 12:00 ET on 2025-09-21, Memecoin/Tether (MEMEUSDT) opened at 0.002622, reached a high of 0.002761, and closed at 0.002664 with a low of 0.002600. Total volume over 24 hours was 1.81B units, and notional turnover was $489.7M, reflecting elevated interest and volatility.

Structure & Formations

The 24-hour chart showed a dynamic price range between 0.002600 and 0.002761. A bullish engulfing pattern formed at 0.002650–0.002668 in late ET hours, suggesting short-term buying pressure. However, a bearish rejection at the 0.002675 level appeared after a strong attempt to break through, forming a potential resistance cluster. A doji near 0.002650 and a long upper shadow at 0.002665 highlighted indecision and profit-taking. Key support levels are at 0.002640 and 0.002620, while resistance is at 0.002675 and 0.002690.

Moving Averages

On the 15-minute chart, price traded above the 20-period SMA but below the 50-period SMA, suggesting a mixed bias. The 50-period SMA at 0.002642 acted as a short-term floor. On the daily chart, the 50/100/200-day SMAs are yet to be fully visible in the 24-hour window, but the 50 SMA is rising at 0.002635, supporting the recent breakout attempt.

MACD & RSI

The 12-period MACD crossed above the signal line near 0.002650, confirming bullish momentum during the late ET rally. RSI reached 60–65 during the upswing, indicating moderate strength but no overbought conditions. A pullback to the 50–55 RSI range suggests a potential consolidation phase, with no clear overbought or oversold signals.

Bollinger Bands

Volatility expanded significantly as price pushed up against the upper Bollinger Band near 0.002675 and tested the lower band at 0.002630–0.002640. The 20-period Bollinger Band width reached a high of 0.000035, indicating increased short-term uncertainty. Price remained within the bands for most of the session, suggesting a continuation pattern rather than a breakout.

Volume & Turnover

Volume surged in the late ET session, with the highest 15-minute volume of 108.64M at 0.002682, coinciding with the breakout attempt. Notional turnover peaked at $28.6M during that period, confirming price action. However, volume dropped significantly during the pullback to 0.002660, suggesting a lack of conviction from buyers. A volume divergence at 0.002668 may indicate a potential reversal.

Fibonacci Retracements

Fibonacci levels from the 0.002600–0.002665 swing showed price consolidating near the 61.8% retracement level at 0.002639, which acted as a minor support. A 38.2% retracement at 0.002648 and a 50% retracement at 0.002653 were tested as price moved upward. The 0.002675–0.002665 consolidation is now a key area for the next 48 hours.

Backtest Hypothesis

Given the recent consolidation around 0.002650 and the confirmation of bullish momentum from the MACD and RSI, a potential breakout strategy could be tested. A long entry at 0.002668 with a stop below 0.002640 and a target at 0.002690 would align with the observed structure and Fibonacci levels. This strategy would benefit from increased volatility and could be backtested over similar 24-hour windows in prior cycles.