In this MEME (Ordinals) technical analysis, we will examine the current price action, trading volume, key levels and indicators for MEME-USDT. MEME is a decentralized cryptocurrency that utilizes ordinal-based naming conventions to create unique digital assets. This innovative approach enables creators to mint scarce and exclusive memes, which can be bought, sold, and traded on online marketplaces. With its focus on community engagement and creativity, MEME has gained popularity among cryptocurrency enthusiasts and meme lovers alike.
MEME (Ordinals) Price Overview:
As of February 09, 2024, MEME (Ordinals) is trading at approximately 0.02345 USDT. Let’s dive into the detailed price action for MEME-USDT:
| Metric | Value |
|---|---|
| Open (O) | 0.0226 |
| High (H) | 0.02349 |
| Low (L) | 0.0226 |
| Close (C) | 0.02345 |
| Volume (C) | 261,995,750.00 |
- Open (O): The opening price for today’s trading session was approximately 0.0226 USDT.
- High (H): MEME (Ordinals) reached a daily high of around 0.02349 USDT.
- Low (L): The daily low for MEME-USDT was approximately 0.0226 USDT.
- Close (C): At the time of analysis, MEME (Ordinals) is trading near its daily close of 0.02345 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | 3.74% |
| 3D Change (%) | 8.36% |
| 7D Change (%) | 5.38% |
| 30D Change (%) | -2.29% |
| 90D Change (%) | 5.49% |
| YTD Change (%) | -14.06% |
Over the past three days, MEMEUSDT has increased by approximately 8.36%, showcasing increased market volatility. Throughout the last week, it continued to increase, with a gain of around 5.38%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with MEMEUSDT maintaining a downward trend of approximately -2.29%, despite intermittent fluctuations. Examining the last 90 days, MEMEUSDT has witnessed substantial increase of approximately 5.49%, reflecting strong long-term confidence. Year-to-date, MEMEUSDT has steadily depreciated by around -14.06%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
MEME (Ordinals) Live Chart:
You can access a live price chart for MEME-USDT on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.
Price Volatility and Momentum:
- Volatility score is 0.65204.
- Momentum score is -0.02288.
MEME USDT Technical Analysis
MEME (Ordinals) Trading Volume:
The trading volume for MEME (Ordinals) (MEME) over the past 24 hours has been insignificant, with approximately 261,995,750.00 USDT traded against MEME. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.
Moving Averages:
- 50-day Simple Moving Average (SMA): MEME is currently trading below the 50-day SMA, indicating short-term bearish momentum.
- 200-day Simple Moving Average (SMA): MEME (Ordinals) is also trading below the 200-day SMA, indicating a negative long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for MEME-USDT is currently in the neutral zone, around 47.10955. This suggests that MEME (Ordinals) is in range-bound territory.
Analysis from TradingView:
Our Key Takeaways:
MEME (Ordinals) (MEME-USDT) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the USDT monthly resistance level and the USDT support level for potential trading opportunities. Additionally, the neutral RSI and insignificant trading volume are neutral signals for potential sideways movement.
Clearly see MEME (Ordinals)’s (MEMEUSDT) bullish trend at 2.35e-02 USDT through detailed technical analysis, highlighting strong support and promising indicators.
Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.
Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.
Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.