USELESS has rebounded from a closely watched technical support level, the Fibonacci golden zone, recording two consecutive days of gains. The token gained 10% in the past 24 hours and has held above key exponential moving averages (EMAs), suggesting continued buying pressure in the short term.
The rebound has outpaced performance among several competing memecoins, with only PUMP showing stronger gains during the period.
On-Chain Sentiment Strengthens
USELESS' social volume reached its highest point of the week, indicating increased attention from the crypto community. Simultaneously, aggregated Funding Rates in derivatives markets also climbed to weekly highs, reflecting growing bullish positioning among traders.
At the time of analysis, the Funding Rate stood at 0.025% following two days of sharp increases. The convergence of rising social engagement and higher Funding Rates suggests mounting confidence behind the ongoing price recovery.
Next Liquidity Target
A significant liquidity cluster valued at approximately $331,000 sits around the $0.36 price level. Traders have identified this zone as the next major area of interest if the current rally extends.
USELESS has historically retested key liquidity zones during price movements, and the token could follow that pattern. A successful move to that level would reinforce the strength of the bounce from Fibonacci support.
Technical Outlook
The long-term market structure remains constructive as long as buyers maintain support above the recent breakout and key EMAs. If current conditions persist—maintained technical support, rising social engagement, and stronger derivatives activity—the $0.36 liquidity cluster could emerge as the next price destination.
