Useless Coin (USELESS) Set to Rally as Momentum Builds Post-Crash

Useless Coin (USELESS) is edging closer to reclaiming its all-time high after a sharp recovery from last week’s crash.

The price tests the $0.39 resistance level, a key zone that could determine whether the rally continues.

Let’s examine the charts and determine if USELESS can break out of its long-term resistance.

USELESS Nears All-Time High

The USELESS price remained low for a long time after reaching its all-time high of $0.44 in July.

After a 60-day decline, the USELESS price fell to a low of $0.40 before bouncing and breaking out from its corrective trend line.

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Considering this trend line, last week’s crash was simply a retest of this resistance and its validation as support.

After doing so, USELESS bounced, creating a long lower wick (green icon) and moving higher.

Today, the USELESS price attempts to break out from the $0.39 horizontal resistance area.

If successful, the USELESS meme coin could reach a high of $0.63, reaching the 1.61 external Fibonacci retracement resistance.

Momentum indicators support the rally. The Relative Strength Index (RSI) is above 50, and the Moving Average Convergence/Divergence (MACD) is positive.

The USELESS price prediction is bullish, and a breakout above $0.39 could potentially take the price significantly higher.

Short-Term Retracement

While the long-term USELESS price prediction is bullish, the short-term is not.

The hourly price analysis shows that USELESS has completed a five-wave upward movement since the Oct. 10 crash.

Since wave five has nearly ended, a significant correction could occur soon.

Additionally, the hourly RSI has generated a bearish divergence within overbought territory.

Therefore, the USELESS price could begin an A-B-C correction soon, targeting the 0.5-0.618 Fibonacci retracement support levels at $0.276-$0.300.

After the correction, USELESS could surge again, moving above its all-time high price.

Correction Before New Highs

Useless Coin may fall off in the short term, returning to its support levels around $0.276-$0.300.

However, the long-term trend remains bullish. If useless breaks out above $0.39, it could move to new highs, potentially reaching $0.63.

About the Author

Valdrin Tahiri

Valdrin Tahiri is a cryptocurrency analyst and reporter at CCN, specializing in technical analysis with a focus on Elliott Wave theory, on-chain metrics, and fundamental research. He brings over seven years of experience in the crypto space as both a trader and writer.

He discovered cryptocurrencies in 2017 while earning his MSc in Financial Markets at the Barcelona School of Economics, which sparked a deep interest in blockchain and market dynamics. Since then, he’s contributed to top crypto outlets like BeInCrypto and CoinGape.

Valdrin also served as Community Manager of BeInCrypto’s Telegram group for three years, helping grow it into one of the largest crypto communities worldwide. His expertise in market structure and price patterns allows him to break down complex trends into clear, actionable insights.

He’s published thousands of articles covering altcoins, Bitcoin cycles, and macro trends.

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