Key Takeaways
- Oh dear! MemeCore has taken quite the nosedive—27% down on the 15th of July! As it squabbles around the critical support of $0.39, the Funding Rates and Long/Short Ratio seem to flirt with the bulls, while on-chain data whispers of outflows and distributions, suggesting a delightful trend flop may soon be upon us.🧐
After an utterly sensational rally of 107% over the previous week, our dear friend MemeCore [M] has finally shown some rather dramatic signs of fatigue on July 15th. Too much excitement, I daresay!
Worry not, for in just 24 hours, this memecoin has plummeted by 27% (yes, you read that correctly!), landing us at a rather critical juncture—like the protagonist at the climax of a thrilling play! 🎭 Is a grand rebound in the cards or are we on the verge of wiping those recent triumphs off the stage?
MemeCore hanging by a thread?
Our star’s unfortunate tumble has triggered a veritable fireworks display in the derivatives market, with over $912,800 worth of long positions vaporized, as traders capitulated in pure pandemonium. Grab your popcorn! 🍿
As we draw near to July 15th, the price has valiantly closed four consecutive 4-hour candles near $0.39, according to TradingView. But alas! Even after a few hopeful intraday bounces, those bullish knights have failed to reclaim their gallant momentum.
Without reliable support below this range, a breakdown could cascade like a poorly scripted drama into a larger drop—unless, of course, our dashing spot buyers decide to swoop in with all their strength, cape and all.
The sideways action is nothing short of a theatrical pause, reflecting a distinct lack of conviction as traders hold their breath for something substantial before making their next move.
What does the broader market sentiment say?
Despite this dramatic sell-off, our derivatives data daintily hints at a rather optimistic outlook, as if the audience is waiting for a surprise twist in the plot!
CoinGlass reports that MemeCore has seen a net influx of $564,000 across centralized exchanges over the last 72 hours, suggesting that retail and whale investors continue to flirt with accumulation. How delightfully scandalous!💃
Meanwhile, the Long/Short Ratio remains comfortably above 1.0, reinforcing a bias toward bullish bets, even in the face of bearish pressure. Isn’t it charming how the market plays hard to get?
Adding to the optimistic atmosp
Bearish picture in sight
Oh, but not all scenes are rosy! Technical indicators are painting a rather different portrait.
With the Accumulation/Distribution (A/D) line and Chaikin Money Flow (CMF) both on a downward trajectory, we find ourselves tangled in a bearish divergence. How terribly dramatic!
The A/D Line has confirmed a distribution of over 32 million M tokens in the last 24 hours, revealing a scandalous dump from larger wallets. Will the audience forgive this betrayal? 😱
The CMF remains wallowing in negative territory with a dismal reading of -0.34, indicating that outflows are eclipsing inflows, forcing bears to tighten their grip.
The next act for MemeCore rests solely on how the market sentiment decides to pirouette.💫
If both the spot and derivatives markets throw a hissy fit and turn bearish, we might just witness a further fall of Shakespearean proportions.
Yet, if our technical indicators decide to switch sides and become bullish, this ongoing pullback could merely be a trifling corrective phase, priming us for another grand rally. Bravo! 🎉
Read More
- BTC PREDICTION. BTC cryptocurrency
- LSETH PREDICTION. LSETH cryptocurrency
- JUP PREDICTION. JUP cryptocurrency
- INJ PREDICTION. INJ cryptocurrency
- CRV PREDICTION. CRV cryptocurrency
- EUR AED PREDICTION
- TRUMP PREDICTION. TRUMP cryptocurrency
- USD THB PREDICTION
- EUR INR PREDICTION
- SOL PREDICTION. SOL cryptocurrency
2025-07-16 09:49