Useless Coin [USELESS] has fallen more than 10% in the last 24 hours at press time, tracking a broader crypto market that has logged a week of bearish moves. The token is trading below all of its key Exponential Moving Averages on the daily chart and is testing a demand zone around $0.13.
Demand zone under scrutiny
The demand zone sits between $0.125 and $0.145. USELESS was described as on the verge of breaking below the roughly $0.13 level as negative on-chain sentiment reinforced concerns about demand. The token has followed a bearish trend across the majority of altcoins after the recent unchanged FOMC rates this week.
Buyers have defended the zone on several occasions, and buyers have started to show up on short time frames. A successful defense could provide a base for recovery, particularly if broader market sentiment improves. The short-term technical structure is also tilted toward sellers, with the EMAs potentially acting as overhead resistance if the token attempts a recovery.
Leverage and liquidity
On derivatives, Open Interest has shrunk to $32 million, pointing to declining leveraged positions as traders and investors reduce exposure amid uncertainty.
An unmitigated liquidity cluster worth $586K sits around 0.112. This highlights the level as a key target for sellers before further bullish advances can resume, and similar zones have acted as magnets for USELESS price action in the past.
Level to watch
USELESS remains vulnerable while it trades below key EMAs and tests the $0.125-$0.145 demand zone. A decisive breakdown below $0.13 would strengthen the bearish outlook, and without renewed buying pressure sellers could retain control and extend the decline.
The $0.13 zone is the level to watch. Its ability to attract buyers could determine whether USELESS stabilizes or enters another phase of losses.
