MEME USDT MEME (Ordinals) Technical Analysis

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By Frans van Elst

MEME (Ordinals) logo 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 the power of memes to drive its blockchain network. With a unique proof-of-meme consensus algorithm, MEME incentivizes users to create and share popular memes, which helps secure the network and distribute new coins. By leveraging the viral nature of memes, MEME aims to bring cryptocurrency to a wider audience and make it more accessible and approachable for everyone.

MEME (Ordinals) Price Overview:

As of May 23, 2024, MEME (Ordinals) is trading at approximately 0.02602 USDT. Let’s dive into the detailed price action for MEME-USDT:

Embrace a bullish sentiment for MEME (Ordinals) (MEMEUSDT) at 2.60e-02 USDT as technical analysis emphasizes strong support and positive indicators for potential growth.

Metric Value
Open (O) 0.0276
High (H) 0.02832
Low (L) 0.02542
Close (C) 0.02602
Volume (C) 643,032,527.00
  • Open (O): The opening price for today’s trading session was approximately 0.0276 USDT.
  • High (H): MEME (Ordinals) reached a daily high of around 0.02832 USDT.
  • Low (L): The daily low for MEME-USDT was approximately 0.02542 USDT.
  • Close (C): At the time of analysis, MEME (Ordinals) is trading near its daily close of 0.02602 USDT.
Metric Value
1D Change (%) -5.72%
3D Change (%) -4.09%
7D Change (%) 3.05%
30D Change (%) -14.24%
90D Change (%) -0.39%
YTD Change (%) -4.65%

Over the past three days, MEMEUSDT has decreased by approximately -4.09%, showcasing increased market volatility. Throughout the last week, it continued to increase, with a gain of around 3.05%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with MEMEUSDT maintaining a downward trend of approximately -14.24%, despite intermittent fluctuations. Examining the last 90 days, MEMEUSDT has witnessed substantial drop of approximately -0.39%, reflecting strong long-term confidence. Year-to-date, MEMEUSDT has steadily decreased by around -4.65%, 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 0.78212.
  • Momentum score is 0.07788.

MEME USDT Technical Analysis

MEME (Ordinals) Trading Volume:

The trading volume for MEME (Ordinals) (MEME) over the past 24 hours has been significant, with approximately 643,032,527.00 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 47.03394. 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 significant trading volume are neutral signals for potential sideways movement.

Embrace a bullish sentiment for MEME (Ordinals) (MEMEUSDT) at 2.60e-02 USDT as technical analysis emphasizes strong support and positive indicators for potential growth.

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.

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