Foreign media analysis suggests that MemeCore has continued to decline over the past 24 hours, but from a chart perspective, the price has returned to a demand zone that has repeatedly triggered rebounds in the past, and the market is watching whether the selling pressure is nearing its end.
Prices return to the demand zone
The article points out that MemeCore has entered a correction phase in the order book. Historically, this area typically attracts buying interest and provides support for a subsequent rebound.
However, the Bollinger Bands indicate that further downward movement in the short term cannot be ruled out. The lower band is currently within the demand zone and below the current price, suggesting that prices may first fall further before a more definitive recovery.
Trading volume rose to $9.44 million.
MemeCore's spot trading volume increased by 22% over the past day, reaching $9.44 million. For tokens that are in a downtrend, a rebound in trading volume usually indicates a renewed market activity.
However, the article also noted that relevant indicators remain in negative territory, indicating that the selling pressure that previously dominated the market has not completely subsided. While buying activity has increased, it is insufficient to completely reverse the previous pressure.
Liquidity is concentrated around $2.7
The liquidation heatmap shows that more liquidity is concentrated below the current price. The article argues that prices often move closer to areas of higher liquidity before determining their next direction.
The most obvious area of concentrated liquidity is around $2.7, which is close to the aforementioned demand zone. If the price falls back to this area first, it may trigger some position liquidation before attempting a rebound.
Overall, foreign media believe that MemeCore is approaching a key support level. The rebound in trading volume indicates that the market has not completely lost interest, but whether the rebound can be sustained remains to be seen until the accumulated signals strengthen.
