- MemeCore is trading around the $2 mark.
- Daily trading volume has soared by over 111%.
With the neutral sentiment enduring in the crypto market, the market cap has reached $3.87 trillion. Both the green and red lights are flashing, resulting in an ambiguous price movement. Meanwhile, the meme coin market cap is at $74.2 billion, after losing 3.1%. Among them, MemeCore (M) has marked a loss of 1.18% in the last 24 hours.
In the morning hours, the asset traded at a bottom range of around $1.64. With the brief bullish support, the meme coin’s price has visited a high of $2.47. M has broken the key resistances between $1.69 and $2.42. As per CMC data, at press time, MemeCore traded within the $2.26 range, with its market cap staying at $2.4 billion.
In addition, the meme coin’s daily trading volume has exploded by over 111%, reaching the $47.97 million mark. Besides, the Coinglass data has reported that the market has observed a $2.35 million worth of MemeCore liquidation within this interval.
Is MemeCore Preparing for a Fresh Rally or Consolidation?
The MACD line and the signal line of MemeCore are positioned below the zero line, generally pointing out the overall downtrend. Until the MACD moves above the zero line, the broader trend remains weak. Moreover, the CMF indicator at -0.10 is negative, denoting that the selling pressure is high. The money is flowing out of the asset rather than into it. Also, there is a potential weakness in price.
On the charts, the asset shows a bear engulfing pattern, affirming the existing downtrend. With the red candles lit, the price might retrace back toward $2.18. Contrarily, assuming the reversal of the current momentum, the MemeCore price could climb to a high above the $2.30 mark.
MemeCore’s BBP value found at 0.241144 suggests the bulls are moderately dominating the bears. The higher the value, the stronger the buying pressure. The daily RSI of 49.21 indicates the market is neutral, showing a balance between buyers and sellers with no strong momentum in either direction.
The bears have dominated the M market for the last few days. The brief spike in value may not be strong enough to shift the trend bullish; instead, a rally can only push the momentum positive. Curious where MemeCore (M) is headed next? Check out our price predictions for 2025 and beyond, up to 2030.
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Source: https://thenewscrypto.com/111-explosion-in-activity-could-this-propel-memecore-on-a-bullish-wave/