MemeCore technical analysis: Seller pressure weighs on outlook

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MemeCore slides 7.03% to $1.20 today

Highlights

MemeCore leads the top 100 tokens by market cap as strong spot buying and exchange outflows suggest accumulating long-term holders.
Withdrawal of MemeCore from exchanges is likely reducing circulating supply, supporting longer-term price stability despite recent selling.
Technical signals remain broadly bearish, with price trading below major moving averages and a projected range of $1.1097 to $1.2943 over the next sessions.

Long-term accumulation and reduced supply offset by ongoing selling

MemeCore recently recorded notable gains, establishing itself as the leading token by market capitalization among the top 100, while spot buying outpaced other forms of demand. This shift, highlighted by a negative netflow, saw more MemeCore being withdrawn from exchanges than deposited, a pattern often attributed to long-term holder accumulation and reduced circulating supply. Such developments could support price stability longer-term, though price action has remained under broader selling pressure.

Bearish signals as technical barriers and mixed momentum persist

On the H1 timeframe, M trades below the 20-period simple moving average at $1.2299 and the 50-period simple moving average at $1.2364, while the daily chart shows price well beneath the 200-period simple moving average at $2.2109. Immediate resistance is defined by the Ichimoku Kijun at $1.2552, capping upside attempts. Among momentum indicators, the Moving Average Convergence Divergence (MACD) remains on a Sell signal, while the Average Directional Index (ADX) is Neutral. The Relative Strength Index (RSI) is at 44.88 and the Commodity Channel Index (CCI) signals Sell, pointing to a mild bearish bias without deep oversold conditions. Stochastic RSI coverage is Neutral, Bull/Bear Power leans positively toward buyers, and the Awesome Oscillator maintains a downward signal. This array of indicators shows a split in conviction, but the majority support ongoing downside momentum.

Downside risk likely to dominate amid weak breakout prospects

Over the next 2–3 sessions, $M is expected to trade within the $1.1097 to $1.2943 range based on recent volatility. The probability of an upward breakout remains very low, with downside momentum likely to persist unless a sustained move above immediate resistance at $1.2552 occurs. If the price breaches lower support, further acceleration to the downside could follow, while an unexpected upside move would require clearing $1.2552 and attracting new buyers.

Anton Kharitonov, expert at Traders Union, notes that MemeCore remains weak despite recent accumulation signals from long-term holders. He sees persistent downside momentum confirmed by technical resistance and bearish signals on multiple indicators. Cautious sentiment prevails while the price holds below $1.2552, with upside potential severely limited short term. "Until we see a sustained break above $1.2552 and a real shift in momentum, the outlook remains defensive and risk favors further downside," Kharitonov says.

Earlier, analysts noted that MemeCore faced elevated risk levels due to ongoing insider concentration concerns and sustained selling pressure. The persistence of downside momentum alongside a split in technical indicator signals suggests traders should closely monitor the $1.2552 resistance, as any decisive move above this level may be necessary to alter the asset’s current bearish outlook.

Source of Data: M Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.