Latest Useless Coin (USELESS) Price Analysis

Deep Dive

1. Post-Listing Profit-Taking (Bearish Impact)

Overview: USELESS surged 55% to $0.31 after its Binance listing on August 15 but faced immediate profit-taking. The 24h volume plummeted to $48.5M (–34.88%), signaling fading momentum.

What this means: Memecoins often see “buy the rumor, sell the news” behavior. The Coinbase roadmap addition on August 19 (tweet) likely triggered similar sell-offs. With 100% of tokens circulating, whale sell-offs (e.g., Nansen-reported 15% whale holding cuts in June) amplify volatility.

What to watch: Exchange net flows – sustained outflows may indicate further selling.

2. Technical Resistance & Sentiment Shift (Mixed Impact)

Overview: USELESS faces resistance near $0.33, aligning with Fibonacci 38.2% retracement ($0.2885). The RSI-14 at 54.32 suggests neutral momentum, while MACD hints at bullish divergence but lacks confirmation.

What this means: Failure to breach $0.33 eroded trader confidence, triggering stop-losses. The 24h price range ($0.25–$0.27) aligns with the critical 50% Fibonacci level ($0.26288) – a break below could target $0.237 (61.8% retracement).

What to watch: Daily close above $0.26986 pivot point for bullish reversal signals.

3. Market-Wide Risk Aversion (Bearish Impact)

Overview: Bitcoin’s 1.84% drop to $115,205 on August 19 pressured altcoins. Crypto fear/greed index at 51 (neutral) reflects cautious sentiment, while USELESS’s –8.37% underperformed the market.

What this means: Memecoins typically suffer disproportionately in risk-off environments. USELESS’s 1.5x turnover ratio (volume/market cap) highlights its speculative nature – liquidity crunches exacerbate swings.

Conclusion

USELESS’s drop stems from post-listing profit-taking, technical barriers, and broader market caution. Its memecoin status leaves it vulnerable to sentiment shifts, with $0.27 acting as a key support level.

Key watch: Can USELESS hold $0.26288 (50% Fib) amid Coinbase trading going live on August 20?

Deep Dive

1. Exchange Listings Boost Liquidity (Bullish Impact)

Overview: Useless Coin became tradable on Coinbase’s iOS/Android apps on 20 August (Coinbase), following its Binance listing in mid-August. This expanded access to U.S. retail traders, coinciding with a 30.74% rise in 24h volume to $74.97M.

What this means: Listings on top exchanges typically increase liquidity and reduce slippage, attracting short-term traders. The 0.26 turnover ratio (volume/market cap) suggests healthy trading activity, reducing volatility risks.

What to look out for: Sustained volume post-listing; watch for profit-taking near the $0.33 resistance level (AMBCrypto).

2. Technical Indicators Signal Strength (Mixed Impact)

Overview: The 7-day RSI at 73.18 (overbought) and MACD histogram at +0.01179 indicate bullish momentum. Price ($0.287) sits above the 7-day SMA ($0.2455), a key support level.

What this means: While RSI warns of potential pullbacks, the MACD crossover suggests short-term upside. The Fibonacci 38.2% retracement at $0.2885 aligns with current price action, acting as a pivot.

What to look out for: A close below $0.262 (50% Fib level) could trigger profit-taking.

3. Meme Narrative & Social Sentiment (Bullish/Risky)

Overview: The token’s “useless” branding gained traction on social media, with its X account adding ~9,700 followers in August. Community-driven memes (e.g., “Proof of No Work”) fueled speculative interest.

What this means: Memecoins often rally on viral narratives rather than fundamentals. However, the fully diluted supply (999M tokens) means whales could dump holdings abruptly.

What to look out for: Monitoring whale wallets (Nansen) and exchange netflows for sudden sell pressure.

Conclusion

Useless Coin’s rise reflects exchange-driven liquidity, technical momentum, and meme hype—a volatile mix common in low-utility tokens. While bullish signals dominate, the lack of fundamental anchors heightens reversal risks if sentiment shifts.

Key watch: Can USELESS hold above $0.262 support amid rising altcoin season index (72, +63% monthly)?