• Price surged to 0.002207 before retracing to 0.002071, showing volatile momentum and a strong bullish breakout attempt.
• MACD and RSI suggest overbought conditions, with RSI peaking above 70 during the day’s high-volume rally.
• Volume spiked sharply between 13:00 and 15:00 ET, confirming the strength of the rally but also raising divergence risk with price.
• A bearish engulfing pattern formed at 15:15 ET, signaling potential profit-taking or reversal pressure post-breakout.
• Bollinger Bands expanded with the breakout, indicating heightened volatility and a possible continuation or consolidation phase.
Market Overview
Memecoin (MEMEUSDT) opened at 0.002005 on 2025-08-17 at 12:00 ET, reached a high of 0.002207 at 13:00 ET, and closed at 0.002071 at 12:00 ET on 2025-08-18. Total volume was 1.12B, and notional turnover amounted to ~$2.35M, reflecting strong participation.
Structure & Formations
The price surged past a key resistance near 0.002059 into uncharted territory, reaching a 24-hour high of 0.002207 before retreating. A bearish engulfing pattern emerged at 15:15 ET as price closed below the prior candle’s body, hinting at profit-taking or a short-term reversal. Support levels are forming around 0.002071–0.002054, with the next critical support likely at 0.002030–0.002017. Resistance remains at 0.00208–0.002105, where the 50-period SMA currently sits.
Moving Averages
On the 15-minute chart, price broke above the 50-period SMA and ran into the 20-period SMA at 0.002085–0.002090 before pulling back. Daily moving averages show price has crossed above both the 50- and 100-period SMAs, suggesting a stronger medium-term bullish bias. However, the 200-period SMA remains below current levels, indicating a broader market may still be in a consolidation phase.
MACD & RSI
The MACD turned bullish mid-day with a sharp positive crossover, confirming the breakout. RSI hit overbought territory (above 70) during the rally to 0.002207 and has since pulled back to the 62–65 range. This suggests momentum has weakened post-breakout, and a potential pullback to 0.002050–0.002030 could be expected for RSI to normalize.
Bollinger Bands
Volatility expanded significantly following the breakout, with the 20-period Bollinger Bands widening and price reaching the upper band at 0.002207. Currently, price is trading near the middle band at 0.002080–0.002090, suggesting a temporary pause in the expansion. A consolidation phase is likely unless a new impulse triggers another expansion.
Volume & Turnover
Volume surged between 13:00 and 15:00 ET, with the largest candle showing ~354.6M volume at 13:00 ET. Notional turnover spiked alongside the price action, confirming the strength of the bullish move. However, volume declined after 15:30 ET despite continued price movement, which could signal a divergence and possible reversal or consolidation in the near term.
Fibonacci Retracements
Applying Fibonacci retracement to the recent 15-minute move from 0.002005 to 0.002207, price is now testing the 38.2% level at ~0.002125 and the 50% level at ~0.002106. A breakdown below 0.002071 would bring the 61.8% retracement at ~0.002046 into focus. On the daily chart, the 38.2% retracement from a prior swing low is now acting as support near 0.002017.
Over the next 24 hours, Memecoin may consolidate near current levels or attempt a retest of 0.002105–0.002125, depending on the strength of buying interest post-breakout. A breakdown below 0.002054 could trigger renewed bearish pressure. Investors should monitor volume for confirmation or divergence and watch for key Fibonacci levels as price action may remain range-bound until a new impulse forms.