Market Overview for Memecoin/Tether (MEMEUSDT)

• Price edged lower by 0.35% to $0.001670 amid a consolidation phase.
• RSI hovered near 50, suggesting muted momentum with no clear directional bias.
• Volatility expanded during the overnight session, with a 0.71% high-low range.
• Bollinger Bands widened as price touched the upper band late ET.
• Volume spiked at 04:15 ET and 15:15 ET but failed to confirm bullish follow-through.

The 24-hour candle for Memecoin/Tether (MEMEUSDT) opened at $0.001644 on 2025-10-24 at 12:00 ET and closed at $0.001670 on 2025-10-25 at 12:00 ET. The session saw a high of $0.001701 and a low of $0.001631, representing a 0.71% intraday range. Total trading volume across the 24-hour period reached approximately 221,159,552 units, with notional turnover amounting to $368,776. Over the past 24 hours, the pair traded in a relatively tight range but exhibited signs of intermittent volatility, particularly in the overnight Asian and European sessions.

Price action showed a bearish reversal pattern early in the session, as a bearish engulfing candle formed at 16:00–17:15 ET. However, this was met with a gradual recovery, with price retesting prior support levels and stabilizing by 20:00 ET. A bullish flag pattern emerged from 18:00 to 21:15 ET as buyers re-entered the market. Key support levels were identified around $0.001676–0.001672, while resistance was seen at $0.001690 and above. The 20-period EMA remained below the 50-period EMA, suggesting a short-term bearish bias, but both lines showed a slight upward tilt as the session progressed.

Bollinger Bands expanded in the early morning hours as price hit the upper band during the Asian session, indicating heightened volatility. The RSI remained in the neutral zone around 50, suggesting a lack of strong momentum. MACD crossed below its signal line in the early morning, forming a bearish crossover, though a subsequent re-entry above the signal line midday hinted at a possible short-term reversal. The 61.8% Fibonacci level from the 18:00–21:15 swing sat at $0.001680 and coincided with a minor resistance level.

The volume profile showed a divergence from price, with a sharp volume spike at 04:15 ET coinciding with a decline in price, followed by another strong volume bar at 15:15 ET as buyers pushed price back up. However, neither volume bar resulted in a sustained breakout. Turnover was generally in line with prior averages, with no extreme spikes that would suggest significant liquidity shifts or wash-trading activity.

Backtest Hypothesis

To evaluate potential momentum-based strategies on this pair, a backtesting framework involving MACD Golden-Cross signals could be applied. This would require identifying a valid price data series for a comparable asset—ideally with 2022–2025 historical data. For example, if we were to use this data to test a strategy where long entries are triggered on MACD Golden-Cross (MACD line crossing above the 9-period signal line) and held for 5 days, it would be important to have access to a verified data source. If the data for the asset in question cannot be retrieved (e.g., the “HOLD.P” ETF appears to be unavailable), an alternate ticker or uploaded dataset could be used to perform the backtest. Once a valid data series is confirmed, the MACD Golden-Cross strategy can be simulated, generating buy/sell signals and tracking performance metrics such as returns, maximum drawdown, and Sharpe ratio.