Memecoin/Tether (MEMEUSDT) Market Overview

Summary
• Price action shows a choppy 24-hour range, with late-night volatility and a modest recovery by early morning.
• Volume spiked during mid- to late-night trading but has since declined, showing no clear directional bias.
• RSI and MACD indicate neutral momentum, with no signs of overbought or oversold extremes.

Market Overview

At 12:00 ET on 2025-11-11, Memecoin/Tether (MEMEUSDT) opened at $0.001657, hit a high of $0.001710, fell to a low of $0.001584, and closed at $0.001608. The 24-hour trading window saw a total volume of 446,606,445 and a notional turnover of approximately $713,982. The market exhibited a rangebound pattern with intermittent spikes in volatility.

Structure & Formations

The price action displayed a series of bearish and bullish consolidation patterns, with a notable bearish engulfing pattern forming around 04:45 ET as price fell from $0.001681 to $0.001664. A small doji appeared at 05:00 ET, signaling potential indecision at $0.001658. Resistance formed near $0.001685 and $0.001710, while key support levels appear at $0.001640 and $0.001600.

Moving Averages

On the 15-minute chart, price has bounced off the 20-period moving average multiple times, suggesting short-term support. The 50-period MA remains slightly above price at $0.001635, providing a potential baseline for further consolidation. On the daily chart, the 50/100/200 MA lines remain relatively aligned and flat, indicating a neutral to weak trend bias.

MACD & RSI

The MACD crossed into negative territory around 06:00 ET, staying below the zero line for most of the session, indicating bearish momentum. The RSI remained in the 40–55 range for the majority of the day, suggesting a lack of strong directional bias. Price may test the RSI 30 level ($0.001615–$0.001620) in the next 24 hours for confirmation of oversold conditions.

Bollinger Bands

Volatility expanded during the overnight hours, with price fluctuating between the upper and lower Bollinger Bands. A contraction in the bands was noted at 04:00–04:30 ET, followed by a sharp move to the upper band. Price closed near the middle band ($0.001630–$0.001635), indicating continued indecision in the short term.

Volume & Turnover

The highest volume spike occurred at 03:45 ET with a notional turnover of $1.25M, coinciding with a move toward $0.001696. A divergence between price and volume was observed in the latter half of the session, with volume declining while price drifted lower. This could signal a potential loss of bearish momentum.

Fibonacci Retracements

Recent 15-minute swings show a 38.2% retracement level at $0.001668 and a 61.8% retracement at $0.001645. On the daily chart, the 38.2% retracement of the recent bullish move sits near $0.001630, offering a key level to watch.

Backtest Hypothesis

A potential backtest could evaluate an RSI-based strategy using MEMEUSDT, entering long positions when RSI falls below 30 and exiting when it rises above 70. With the RSI remaining mid-range, this setup has not triggered any signals today. Including a 5% stop-loss and 5% take-profit may help manage risk. Given the low volatility and neutral RSI readings, this strategy may struggle to generate consistent signals in the near term.