TL;DR
- MemeCore surge: Maintains strong position above $1 with record $99.4M Open Interest, daily volumes over $1B, and bullish technicals pointing toward a potential breakout to $1.47.
- Four recovery: Extends sharp V-shaped rebound toward $4, erasing Sunday’s drop, supported by improving RSI and a pending MACD bullish crossover.
- Ethena struggles: Holds near $0.7000 after mixed sessions, with rising $1.43B Open Interest but fading volumes, signaling cautious optimism among traders.
The crypto market is showing renewed strength this Thursday, with MemeCore (M) leading a broad rebound, followed by sustained gains in Four (FORM) and a tentative recovery in Ethena (ENA). Shifting investor interest from top-tier coins toward select altcoins is fueling momentum, with technical indicators pointing to further upside potential if key resistance levels are breached.
MemeCore holds above $1 and eyes new highs
MemeCore has extended its winning streak to six consecutive days, trading 36% higher at press time, trading at $1.37. The token remains firmly above the $1.00 psychological level and is challenging resistance at $1.37.A strong close above this level might lead the way to $1.47.
CoinGlass data shows a 43% surge in Open Interest over the past 24 hours to a record $99.4 million, while daily trading volume has exceeded $1 billion for three straight days. Momentum indicators, including an RSI at 77 and a bullish MACD setup, signal strong buying pressure.
Four extends the V-shaped recovery
Four, formerly known as BinaryX, is trading above $3.60 with over a 2% daily gain, marking its fourth consecutive day of advances. The GameFi token has staged a sharp V-shaped reversal after an 18% drop on Sunday. A push above $3.75 could erase those losses and set up a move toward $4.00. The RSI at 53 has crossed above its midpoint, and the MACD is converging toward a bullish crossover. However, failure to maintain momentum could see a retest of $3.42.
Ethena faces resistance despite recent gains
Ethena is down 5% today after a 6% rise the previous day, struggling to hold above $0.7000. A continued pullback could target $0.6911, while reclaiming $0.7533 might revive bullish sentiment and set sights on $0.8555. Open Interest has risen 8% to $1.43 billion, but declining volumes suggest cautious participation. The RSI at 56 is turning lower, hinting at weakening buying pressure.
Market outlook remains cautiously bullish
While MemeCore and Four show strong technical setups, Ethena’s mixed signals highlight the uneven nature of the rebound. Sustained momentum will depend on breaking near-term resistance levels and maintaining elevated trading activity. For now, the market’s shift toward altcoins underscores growing appetite for higher-risk, higher-reward plays.
