Current State & Market Sentiment
USELESS Coin is having a rough week. The token has dropped over 8.5% in the last 24 hours, now hovering around $0.05890. It’s a far cry from the all-time high of about $0.40, and the decline reflects broader weakness across memecoin markets—particularly on Solana, where momentum has been cooling off.
The technical picture isn’t encouraging. On the daily chart, the Relative Strength Index sits near or below 30, signaling oversold conditions but without the kind of bullish divergence that usually precedes a bounce. Moving averages are stacked downward across all timeframes, from the short-term MA5 all the way out to the MA200. That’s a clear sign of persistent bearish momentum. MACD remains in negative territory, Williams %R is deep in oversold range, and most oscillators are flashing red.
On-chain data shows a mixed picture. There’s been some modest accumulation by whales, but sell pressure is building around previous support zones. Volume has been dropping off, which makes it harder for buyers to push through resistance. Right now, the nearest meaningful resistance sits around $0.07–$0.08, with stronger barriers waiting near $0.20 if a real reversal ever gets going.
Support, Resistance, and Key Zones to Watch
The most critical support zone right now is between $0.045 and $0.055. If that breaks, the next safety net is down around $0.03, where weekly chart levels line up with earlier volume clusters. Losing that level would be a serious problem for anyone still holding.
On the flip side, resistance starts at $0.07–$0.08. This range aligns with the 5- to 20-day moving averages, which have been capping rallies for weeks. Beyond that, there’s a stronger resistance band at $0.20 and above, but reaching it would require a dramatic shift in volume and sentiment. For bulls to regain control, we’d need to see a daily close above $0.10—and even then, it’s far from guaranteed.
Technical Formations & Pattern Risk
USELESS appears to be forming a descending triangle on the daily chart. This is a classic bearish consolidation pattern: a flat lower support line with a declining upper trendline. The price is getting squeezed, and when that happens, breakouts tend to be sharp. Unfortunately, with volume so weak, a breakdown looks more likely than a breakout.
There’s also pressure from derivatives markets, where traders are holding sizable short positions. That adds skepticism to any potential rally, since shorts will fight to keep the price down near resistance.
Price Predictions Based on Scenarios
Looking ahead, three scenarios seem most likely over the next few weeks:
Bearish scenario: Without solid support holding, the price could slide to $0.045, then potentially down to $0.03. Resistance at $0.07–$0.08 continues to reject rallies, and indicators like MACD and RSI stay underwater. Sellers stay in control.
Neutral scenario: The coin chops around between $0.05 and $0.07. Support near $0.055 holds, but there’s no follow-through. Resistance at $0.07–$0.08 caps upside, and the market drifts sideways until something changes—either volume picks up or sentiment shifts.
Bullish scenario: A sustained move above $0.08, backed by strong volume, could open the door to retests of $0.10 and then $0.15. Bulls would need to break the descending trendline, flip MACD positive, and see moving averages start to align upward. It’s possible, but not probable given current conditions.
Risks & Catalysts That Could Shift The Balance
The biggest risks? Broader market downturns, regulatory crackdowns, or simply fading interest in the “uselessness” meme that gives this token its identity. Whale selling near resistance could trigger cascade liquidations, especially with derivatives positioning as it is.
On the upside, catalysts could include renewed hype around the Solana ecosystem, a major exchange listing, influencer buzz, or quiet accumulation by smart money. If any of these line up, they might be enough to break the current pattern—for better or worse.
