MemeCore jumps 25% from 0.382 Fib, eyes $4
MemeCore (M) climbed 25% to $3.38 after retesting the 0.382 Fibonacci at $2.59, moving into thin liquidity near $3.40 as short liquidation clusters form above $3.49.
MemeCore surged 25% to $3.38 on Tuesday after a retest of the 0.382 Fibonacci level at $2.59 on May 4. The retest occurred alongside a record-volume spike, and subsequent buying pushed the token into a narrow liquidity band just above $3.40.
Exchange liquidation data from Coinglass shows dense short positions beginning at $3.49, increasing between $3.69 and $3.88, with a secondary concentration around $4.05 to $4.27. Long liquidation pockets below the market concentrate between $2.51 and $2.60, the largest cluster on the 30-day map.
On the four-hour chart, aggressive buying appeared at a $2.65 low where MemeCore printed a 39% green candle on the highest volume of the past 30 days. Price stalled near $3.68, a level that aligns with the 0.618 Fibonacci retracement and now acts as resistance. The four-hour Relative Strength Index moved above 50 and the MACD turned positive with rising green histogram bars.
On the daily chart, the token completed a retest of an ascending parabolic curve after tagging the 0.382 Fib at $2.59 on May 4 and then wicking into the 0.618 Fib near $3.46. A daily close above $3.46 would expose the 0.786 Fib at $4.07 and the prior all-time high near $4.86. Daily RSI has eased from overbought levels and is beginning to turn up; the MACD histogram has started rising while the MACD line remains below zero.
Analyst @ScalpingX noted, “the current price at $3.41 sits inside a thin liquidity layer between $3.40 and $3.50.” The analyst added that a clean break above $3.50 could accelerate a move to $3.88 and then $4.27, while a loss of the $3.41 pivot would shift focus to $3.12 and the $2.60 demand zone.
Technical scenarios cited by traders place immediate resistance at $3.68 on the four-hour chart and list a mid-term target near $4.50 if that level is cleared on a four-hour close. The primary invalidation level for the bullish view is a break below $2.60, which would reopen the $2.05 zone at the 0.236 Fibonacci retracement.
Coinglass liquidity clusters and the distribution of resting orders frame the current structure as one with limited sell-side depth above the market and a concentrated long position area below. Market participants are watching the $3.68 pivot and the $2.60 demand zone for signs of which side will be swept next.
