Memecoin/Tether USDt (MEMEUSDT) Market Overview: Rally, Momentum, and Key Resistance in Focus

• Price surged 23.4% from 0.002467 to 0.002681, fueled by a sharp rally post-11:00 ET.
• High volatility seen in last 4 hours, with price testing 0.002685–0.0027 resistance cluster.
• RSI hit overbought territory (76) and MACD crossed above signal line, indicating bullish momentum.
• Volume spiked to 295M at the breakout, confirming strength in the rally.
• Key support identified at 0.002534 and 0.002460, with potential for consolidation or reversal.

Price Action and Open Interest

The 24-hour period for Memecoin/Tether USDt (MEMEUSDT) saw a robust bullish reversal, opening at 0.002467 on 2025-09-05 at 12:00 ET and surging to a high of 0.002714 before settling at 0.002681 at 12:00 ET on 2025-09-06. Total volume reached 3.8 billion MEME tokens, with notional turnover at $10.47 million, reflecting significant participation.

Structure & Formations

The price formation suggests a strong bullish breakout from a 0.002534–0.002587 consolidation range, supported by a bullish engulfing pattern at 0.002584–0.002650. A key resistance cluster now sits at 0.002685–0.0027, with a 0.002628–0.002630 support level just below the close. A long lower shadow at 0.002630–0.002650 suggests a rejection of lower prices, while the long upper wick at 0.002650–0.002681 indicates accumulation at key levels.

Moving Averages and Bollinger Bands

On the 15-minute chart, price has moved decisively above both the 20 and 50-period EMAs, indicating strong momentum. The daily 50, 100, and 200 EMAs are all in bullish alignment, with the 50EMA at 0.002607 currently acting as a dynamic support. Bollinger Bands have expanded significantly, with price sitting near the upper band for much of the day, signaling heightened volatility. A contraction in the bands is expected in the near term if the price consolidates near the 0.002628–0.002630 level.

MACD and RSI

The MACD line (12,26,9) crossed above the signal line with a strong positive histogram, supporting the bullish breakout. RSI has climbed into overbought territory at 76, indicating that the rally may be nearing a critical pause or reversal point. A bearish divergence in the RSI is yet to emerge, so caution is warranted if the price continues to rise without a corresponding RSI dip.

Volume and Turnover

Volume and turnover have surged during the final 6 hours of the period, particularly between 06:00 and 12:00 ET, with a 4.5x increase in volume from 0.002541 to 0.002681. The price-to-turnover correlation remains strong, with no signs of divergence at this stage. The largest spike occurred between 11:00 and 12:00 ET, coinciding with the price reaching 0.002673–0.002714.

Fibonacci Retracements

Applying Fibonacci to the key 0.002512–0.002686 swing, the 0.382 level sits at 0.002613, the 0.50 at 0.002599, and the 0.618 at 0.002585. These levels will be important to watch over the next 24 hours. The daily swing (0.002460–0.002686) sees key 38.2% and 61.8% retracement levels at 0.002573 and 0.002549, respectively.

Backtest Hypothesis

A backtesting strategy based on MACD crossover, RSI overbought divergence, and Fibonacci retracement levels may offer a viable entry and exit framework for MEMEUSDT. Entering a long position on a bullish MACD crossover with RSI above 50 and price approaching a 0.618 Fibonacci retracement (e.g., 0.002585) could be effective. Stop-loss placement would ideally sit just below the 0.002549 level, with take-profit targets at 0.002685 and beyond. This approach may be tested using historical data to evaluate consistency in market conditions like those observed over the last 24 hours.