MemeCore (M) has recently captured market attention with a significant price surge, signaling a potential shift in its short-term trajectory. After a period of consolidation, the token exhibited a strong rebound from crucial technical support, putting buyers back in control and setting sights on a critical resistance level.
MemeCore's Bullish Rebound and Critical Resistance
MemeCore experienced an impressive 8% daily surge, breaking free from a week of tight consolidation and rebounding strongly from a key confluence of technical support at the $1.5 mark. This explosive retest, which saw the token successfully hold a rising trendline and Exponential Moving Average (EMA) support, marks a decisive shift in short-term momentum. Following this resurgence, M's price is now steadily approaching its next major test: the $1.90 resistance level. This zone is anticipated to be a significant battleground where sellers may attempt to regain control, making reactions at this point crucial for determining MemeCore's immediate future trajectory.
Surging Futures Volume Amidst On-Chain Warnings
Adding to the bullish sentiment, MemeCore's Daily Futures Volume has seen a substantial increase, rising by $2.4 million to $36.63 million. This surge in trading activity highlights growing short-term interest and participation from traders, indicating increased potential for volatility. If buyers maintain their momentum, this heightened volume could significantly amplify the ongoing breakout. However, a cautionary note emerges from on-chain data, particularly the adjusted price DAA divergence, which registered a negative 82%. This divergence suggests a potential disconnect between the token's recent price movement and its underlying market valuation, often interpreted as a warning sign of possible overvaluation during strong rallies. While the market structure appears bullish, these mixed on-chain signals advise prudence, potentially limiting sustained investor interest.
