Summary
•
traded in a descending pattern, breaking below 0.00093 with a bearish reversal at 0.000924.
• Momentum declined through RSI and MACD, indicating bearish pressure.
• Volatility expanded in the early session with a high-low range of 0.000104 before consolidating near support.
Memecoin/Tether (MEMEUSDT) opened at 0.000958 and closed at 0.000946, hitting a high of 0.00096 and a low of 0.000881. Total 24-hour volume was 651,153,016.0 and turnover amounted to $129,915. The pair showed a significant downtrend, breaking below key support levels.
Structure & Formations
The 5-minute chart displayed a bearish engulfing pattern at 0.000924, followed by a confirmed breakdown below 0.00093.
A key support level appears to be forming near 0.00090–0.00091, while 0.00095–0.00096 remains a critical resistance cluster.
Moving Averages
On the 5-minute timeframe, price closed below both the 20SMA and 50SMA, confirming a bearish bias. On the daily chart, the 50DMA is likely above 0.00096, indicating the move lower could continue in the short term.
MACD & RSI
The MACD turned negative with bearish divergence as price bottomed, and RSI fell below 30, indicating oversold conditions. However, bearish momentum remains intact with no signs of a reversal.
Bollinger Bands
Volatility expanded significantly between 17:00 and 23:00 ET, with a contraction later in the session. Price closed near the lower band, reinforcing the bearish bias and suggesting a possible retest of the 0.00090 level.
Volume & Turnover
Volume spiked during the breakdown at 0.000928, with over 79 million units traded in the 19:45 ET candle. Turnover confirmed the move lower, showing no signs of bearish exhaustion.
Fibonacci Retracements
Fib levels indicate 0.00090 (61.8%) as a potential support, and 0.000925 (38.2%) as a near-term bounce target. On the daily chart, a 61.8% retrace could target 0.000940–0.000945.
Price appears to be in a short-term bearish phase, with key support levels at risk. A break below 0.00090 could accelerate the decline. Investors should watch for a rejection at this level or a possible bounce from oversold RSI conditions, but bearish momentum could continue if volume remains strong.
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