KEY TAKEAWAYS
USELESS surges 110% to $0.38 amid renewed Solana memecoin momentum.
MACD and AO confirm bullish control as RSI enters the overbought zone.
Price faces a key test at $0.38, with a possible pullback toward the $0.21 support level.
Over the past few days, Solana-based memecoin Useless Coin (USELESS) has climbed to $0.38. This happened after the token recorded a 110% price surge within the past week.
This rally comes as the market attempts to reignite interest in Solana memecoins. Amid this, the USELESS coin price has quickly climbed to become one of the memecoins of the last 24 hours, hinting at a rally toward its all-time high.
Useless Coin Bullish Momentum Rises
On the 4-hour chart, bullish sentiment remains strong. The MACD indicator shows growing momentum as the EMA 12 crosses (blue) above the EMA 26 (orange), while expanding green histogram bars confirm that buyers are in control.
Furthermore, the Awesome Oscillator (AO) continues to print successive green bars above the neutral zone. At the time of writing, the AO sits at 0.0739, reinforcing USELESS’s rising bullish momentum.
If this momentum remains unchanged, the USELESS coin price could retest its all-time high of $0.38. Such a breakout might propel the token into higher territory.
Interestingly, this surge coincides with the rise of BNB-based memecoins in the market. As CCN previously reported, Solana has lost its DEX volume throne to the BNB Chain while also registering lower revenue.
Yet the USELESS coin price defies the odds, indicating that the token could be one of the strongest memecoin on Solana.
USELESS Price Prediction: Bulls Target Breakout
The daily chart supports this outlook.
The Money Flow Index (MFI) has surged beyond the overbought level of 80, currently at 82.32, revealing intensified buying pressure.
However, such a high reading suggests that the market could soon enter a cooling phase. In this case, profit-taking might trigger minor pullbacks before the next uptrend.
Similarly, the Relative Strength Index (RSI) remains on an uptrend, hovering around 74.87, slightly above the overbought region.
This suggests that while buyers maintain dominance, traders should closely monitor potential signs of exhaustion.
Adding to this outlook, the Fibonacci retracement levels highlight key price zones of interest.
From the recent swing low of $0.13 to the current high of $0.39, the USELESS price sits near the 1.0 Fib level, a precursor to consolidation after a strong rally.
If bullish sentiment holds firm, USELESS price might establish a new base around $0.31, paving the way for a potential breakout above its previous high.
A short-term retracement could see the token revisit the 0.786 Fib level at $0.33.
This closely aligns with the historical support at $0.21. Still, failure to maintain momentum above the 1.0 Fib level could expose the memecoin to a correction, possibly testing the $0.21 to $0.14 range.
