Memecore [M] was up 14.7% in the past 24 hours. Its daily trading volume has increased by a commensurate 13.88%, according to CoinMarketCap data.
In fact, the price charts showed that M rallied 29.61% within two days before receding in recent hours of trading.
On Sunday, the 15th of February, the memecoin posted a low of $1.241, before rocketing to $1.609 just 39 hours later. At the time of writing, it had fallen by 7.7% from its peak to $1.485.
Is the M rally beginning, or has it already ended?
The Fibonacci retracement levels (yellow) were drawn using Memecore’s rally from $0.36 to $2.99 in August and September 2025.
They showed that M bulls have defended the 61.8% retracement level at $1.37 since late November.
In doing so, a range (purple) between $1.23 and $1.90 has been established. The $1.86-$2.04 area was the supply zone to watch out for overhead.
So far, Memecore has not managed to close a daily trading session above it.
At the same time, the A/D indicator has been trending downward. This signaled more selling pressure than buying, supporting the idea that the $1.90 supply zone invited intense selling.
The CMF has been below -0.05 for the most part during the range-bound trading, another sign of significant capital outflow from M.
Moreover, the volume indicators firmly showed seller dominance, reinforced by the low trading volume during the past two days’ rally.
Is the short-term Memecore bias changing?
The sharp sell-off, as M prices approached the $1.50 local supply zone, indicated heavy profit-taking pressure. It signaled that another drop to the $1.36 local support is incoming.
A deeper retracement to the range lows is needed for swing traders to look to buy.
As things stand, M traders can look to sell rather than buy as buying strength appears exhausted.
Final Summary
- Memecore has posted strong short-term gains and was consolidating with a longer-term range.
- Despite the gains in the past two days, further bullish momentum appeared unlikely and a retracement toward the local support levels is expected.
Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.
