Latest Useless Coin (USELESS) Price Analysis

Deep Dive

1. Whale Activity (Bullish Impact)

Overview: On-chain data shows whales accumulated 37M USELESS tokens in 24h, per a Sept 30 AMBCrypto report. Exchange netflows turned negative (-$113.9K), reducing immediate sell pressure.

What this means: Large buyers likely frontran bullish momentum, creating scarcity. Meme coins like USELESS often see amplified moves from concentrated holdings – 52% of supply is held by top 100 addresses.

Watch: Sustained accumulation vs. profit-taking at $0.307 (swing high).

2. Technical Momentum (Mixed Impact)

Overview: Price broke above the 23.6% Fibonacci retracement ($0.268) with RSI(7) at 78.75 (overbought). MACD histogram flipped positive (+0.0125), signaling short-term bullish momentum.

What this means: While breakout patterns attract traders, overbought RSI risks a pullback. The 61.8% Fibonacci level ($0.204) now acts as key support.

Watch: Whether price holds above the 7-day SMA ($0.224).

3. Meme Coin Sentiment (Bullish Impact)

Overview: USELESS saw $131M inflows over 30 days as Solana meme coins regained traction, per an Oct 6 CryptoNews report. Social volume spiked, with the project’s anti-utility narrative resonating ironically.

What this means: The token benefits from speculative rotations into high-beta alts during “greed” phases (CMC Fear & Greed Index: 62).

Watch: Competitor coins like TRUMP or BONK losing momentum could divert liquidity to USELESS.

Conclusion

USELESS’ rally combines whale-driven scarcity, technical momentum, and meme coin FOMO. While bullish indicators dominate, overbought conditions and derivatives skepticism (Long/Short Ratio: 0.92) suggest volatility ahead.

Key watch: Can USELESS hold above $0.268 with rising volume, or will profit-taking trigger a retracement toward $0.224? Monitor whale wallet movements via platforms like Nansen.

Deep Dive

1. Derivatives Market Pressure (Bearish Impact)

Overview: Futures traders maintained a bearish stance, with the Long/Short Ratio dropping to 0.9216 (52% shorts) during the recent rally (AMBCrypto). Open Interest rose 5.36% to $36.7M, signaling leveraged bets against further upside.

What this means: Negative funding rates and high short exposure create downward pressure, as traders anticipate a reversal after rapid gains. Derivatives often lead spot markets in meme coins like USELESS due to their volatility.

What to watch: A sustained Long/Short Ratio below 1.0 could prolong selling.

2. Profit-Taking After Rally (Mixed Impact)

Overview: USELESS surged 49.54% in 7 days, peaking near $0.24 resistance. Whale holdings grew 58% in 24h during the rally, but exchange netflows turned negative (-$113.9K), suggesting profit-booking (AMBCrypto).

What this means: Rapid gains often trigger sell-offs, especially in low-utility meme coins. The 24h volume spike (+26.31% to $64.5M) aligns with traders exiting positions.

3. Technical Resistance & Overextension (Bearish Impact)

Overview: The price failed to hold above the 23.6% Fibonacci level ($0.268), retreating to $0.228. The 7-day RSI (61.43) cooled from overbought levels but remains neutral, while the MACD histogram hints at weakening momentum.

What this means: Traders often sell near key Fib levels after breakouts stall. The pivot point at $0.229 now acts as immediate support; a break below could target $0.176 (78.6% Fib).

Conclusion

The dip reflects a natural correction after parabolic gains, amplified by futures traders betting against continuation and retail profit-taking. While the mid-term trend stays bullish (30-day: +21.6%), meme coins like USELESS remain vulnerable to sentiment shifts.

Key watch: Can USELESS hold the $0.22 support level, or will bearish derivatives activity push it toward $0.17?