MemeCore drops almost 10% after strong downside momentum and breaks below key moving averages

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Memecore slides 9.95% today

Highlights

M/USD trades below major moving averages and closed down 9.95% today, reflecting strong selling pressure.
Key resistance is near $0.8535 and support is at $0.7279, with a projected five-day range of $0.7279 to $1.029.
Momentum indicators are mixed, but the prevailing technical bias remains bearish with a 75% probability of further downside.

Anton Kharitonov, expert at Traders Union, notes that MemeCore (M) showed deep technical weakness, with a sharp decline and firm negative momentum across all major moving averages. He highlights that the absence of supportive news further undermines sentiment, keeping the asset vulnerable to extended losses. Kharitonov points to the dominance of sellers, as reflected by a low RSI and persistent pressure below the $1.029 resistance. Although the Awesome Oscillator and Bull/Bear Power are slightly positive, he remains skeptical about any sustainable rebound. "Without a fundamental catalyst and with technicals aligned against buyers, I see little reason for optimism at present," says Kharitonov.

Viktoras Karapetjanc, expert at Traders Union, sees current volatility in MemeCore (M) as opening new opportunities for adaptive traders. He emphasizes that the market still offers setups — a decisive break above $1.029 could spark a meaningful recovery. Karapetjanc notes the mixed momentum readings as a sign that bullish structure is not fully broken. "Despite the sharp drop, I expect further growth potential if buyers reclaim short-term resistance," he states.

Sholanke Dele, market strategist, observes a clear lack of positive sentiment around MemeCore (M). He points out that the absence of news contributes to weak confidence and heavy selling. Dele highlights that momentum divergence and persistent downside bias keep the outlook defensive. "Sellers remain firmly in control as long as key support at $0.7279 is intact," he says.

Bearish trend sustained as key averages and indicators diverge

M is trading below its 20-day, 50-day, and 200-day moving averages ($0.876, $1.0406, and $1.8683), indicating firm selling pressure across short, medium, and long-term trends. The closest resistance is marked by today's low at $0.8535, while short-term support is set at $0.7279. The continued bearish alignment between the 50-day and 200-day moving averages underscores prevailing weakness. Momentum indicators present mixed signals: the Relative Strength Index (RSI) stands at 46.16 with a "Sell" forecast, favoring sellers, while MACD is neutral. The ADX at 31.27 signals "Buy" with directional strength, and Bull/Bear Power (BBP) at 0.0245 shows marginal buying interest. The Awesome Oscillator slightly supports a positive tone, but the Hull Moving Average (HMA) and RSI reflect seller dominance. Intraday, M has dropped $0.0941, now trading near its session lows after a downside gap of about $0.0453 (4.79%), with volatility reaching 7.58%. Downward forces have persisted since the open, as momentum and oscillators have diverged and the bias remains weak.

Earlier, analysts noted that MemeCore was experiencing pronounced bearish momentum with sellers maintaining control. The current analysis strengthens this outlook with fresh evidence of downside dominance, and traders should closely monitor the $0.7279 support level as its loss could trigger accelerated declines.

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

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