MemeCore (M) Shows Consolidation as Price Stabilizes Near Crucial Levels

MemeCore (M) has experienced a 3% increase in price over the past day, stabilizing between key moving averages as the market takes a pause. The current market cap stands at $2.1 billion with a trading volume of $14.7 million.

Key Takeaways

Price Movement: MemeCore’s price rose to an intraday high of $1.71 and dipped to $1.62 in the last 24 hours.
Market Indicators: The coin is trading between the 50-day moving average of $1.555 and the 100-day moving average of $1.889.
Momentum: The daily RSI is at 57, showing mild positive momentum with a gradual return of buyers.
Support Levels: Immediate support is found around $1.55–$1.56, with stronger support near $1.50.
Resistance Points: Resistance is identified at $1.89 and $2.02, making these critical levels for upward movement.

MemeCore (M) Price Analysis

Market Status: A Breather in Consolidation

In the last 24 hours, MemeCore has demonstrated a slight price increase of about 3%, reaching a high of $1.71 and a low of $1.62. Currently, the market cap is reported at $2.1 billion, with a trading volume of $14.7 million.

Moving forward, MemeCore appears to be trading sideways, particularly between the 50-day moving average, which is at $1.555, and the 100-day moving average, set at $1.889. The flattening of the 50-day moving average suggests that selling pressure is lessening, while the 100-day moving average staying above the current price indicates that the market trend remains somewhat weak. Overall, these averages highlight that the market is recovering but hasn’t established a solid uptrend yet.

Momentum Indicators
(Source: TradingView)

MemeCore’s daily relative strength index (RSI) is currently at 57, reflecting a mild positive momentum. This suggests that buyers are gradually coming back into the market, although there is not a significant surge in buying activity at this point. The market does not exhibit oversold or overbought conditions, which aligns with the observed sideways price movement.

In terms of support, there is immediate backing around $1.55–$1.56, a level that has successfully deterred more significant declines in recent trading sessions. A more robust support level lies near $1.50, which could act as a safeguard if prices decline further. On the resistance side, MemeCore faces hurdles at $1.89, near the 100-day moving average, followed by another key barrier at $2.02. For substantial upward movement to occur, breaking above these resistance levels would be crucial.