Market Overview for Memecoin/Tether (MEMEUSDT)

Summary
• MEMEUSDT 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.