The Solana-based meme coin USELESS has surged over 30% in the past 24 hours, emerging as one of today's top-performing digital assets.
This rally stands out as major meme assets like Doge (DOGE) and Shiba Inu (SHIB) recorded losses despite the overall market's upward trend.
Coinbase, Binance US, Kraken Boost USELESS
USELESS's recent rally is attributed to its listing on major exchanges this week. Yesterday, BeInCrypto confirmed that Coinbase officially announced the token's addition in a post on X (formerly Twitter) and that trading will begin according to the listing roadmap.
On the same day, Binance US and Kraken also announced the listing of the meme coin, increasing its market visibility.
USELESS Price Movement Maintains Strength
As market excitement grows over these new listings, new liquidity for the token has increased. The bullish crossover of the Moving Average Convergence Divergence (MACD) confirms this capital inflow.
The daily chart's reading shows the USELESS/USD MACD line (blue) is positioned above the signal line (orange) for the first time since July 17.
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The MACD indicator identifies price movement trends and momentum, helping to capture potential buy or sell signals through crossovers between the MACD and signal lines.
This setup signals a transition to bullish momentum, suggesting rising pressure in the USELESS market.
Additionally, this altcoin is currently positioned above the 20-day Exponential Moving Average (EMA), forming dynamic support below $0.25.
The asset's 20-day EMA tracks the average price over the past 20 trading days, with more weight given to recent prices.
Prices exceeding this level indicate a transition to a bullish trend, meaning short-term price momentum has turned positive and recent prices are trading higher than the average of the past 20 days.
USELESS Betting on Upward Trend
At the time of reporting, the meme coin is trading at $0.28. Continued buying pressure could push it to $0.34.
However, if profit-taking begins, the token could fall below $0.27, finding support at the 20-day EMA. If it fails to maintain this level, USELESS could retreat further to $0.22.
