Market Overview for Memecoin/Tether (MEMEUSDT)

Summary
• Price opened at $0.000959, peaked at $0.000975, and closed at $0.000958 after volatile swings and heavy selling pressure.
• Momentum dipped sharply in the latter half of the session, with RSI hitting oversold territory near the 20-level.
• Bollinger Bands showed a moderate contraction early, followed by a sharp expansion during the selloff.
• Volume surged during key price moves, confirming bearish breakdowns but showing no clear divergence.
• A bearish engulfing pattern formed near the session high, signaling potential further downside.

Memecoin/Tether (MEMEUSDT) opened at $0.000959 on 2025-12-20 at 12:00 ET, reached a high of $0.000975, and closed at $0.000958 by 2025-12-21 at 12:00 ET. Total volume over 24 hours was 508,962,673.0, with notional turnover of $486,714. The asset experienced a dramatic intraday selloff, driven by high-volume breakdowns below key support levels.

Structure & Formations

Price initially trended higher, forming multiple bullish divergences in early hours, but a bearish engulfing pattern formed around $0.000972–$0.000975, showing potential further downside. Later, the price broke below a critical support at $0.000960, confirming a shift in sentiment. A long lower shadow near $0.000957–$0.000958 at session close suggested buying interest, though it may not be enough to reverse the bearish trend.

Moving Averages

On the 5-minute chart, the 20-period and 50-period moving averages crossed bearishly during the afternoon, aligning with the breakdown. The daily 200-period MA appears to act as a key long-term resistance, currently around $0.000965. Price remains below the 50-period and 100-period daily MAs, reinforcing a weak near-term bias.

Momentum and Indicators

The 12-period MACD line turned negative, showing bearish momentum after midday, with a bearish crossover. RSI dropped into oversold territory at 20, suggesting a potential short-term bounce. However, the low volume of that rebound raises questions about conviction.

Volatility and Bollinger Bands

Bollinger Bands showed a moderate contraction in the early morning hours, indicating a lull in volatility before the major move. Price then broke out of the upper band during the bullish phase, only to collapse below the lower band in the late session. Volatility remains elevated, and a retracement into the band’s middle could indicate a pause in the current trend.

Volume and Turnover

Trading volume spiked during two key intraday moves: the morning rally and the late afternoon breakdown. Turnover increased alongside price moves, offering confirmation of bearish momentum. However, volume did not confirm the late rebound near $0.000958, which could suggest weak short-term demand.

Fibonacci Retracements

A major swing from $0.000957 to $0.000975 saw a 61.8% retracement at $0.000965, where price found brief resistance. The 38.2% level at $0.000964 was also a key area of rejection. On the daily chart, the 50% Fibonacci level appears near $0.000962, offering potential support or resistance in the short term.

The next 24 hours may see further consolidation or a test of $0.000950–$0.000955, depending on whether buyers step in near current levels. Investors should remain cautious as short-term indicators show exhaustion, but bearish momentum remains intact.