Memecore (M) has grabbed the spotlight today with a sharp price surge, drawing the attention of traders eyeing its next major milestone. After days of volatile movement, the M token has shown strong upward momentum, sparking speculation about whether it can touch the $3 mark within the next 24 hours. Market buzz suggests that increasing retail participation, combined with heightened social media activity, is fueling the rally. While short-term gains have energized bullish sentiment, traders remain cautious about possible profit-taking at key resistance levels.
The question now is whether momentum will be strong enough to carry M past the $3 threshold.
The Memecore price has been gaining significant attention since its inception, with its notable upward moves. Regardless of the bearish pressure, the bulls continued to push the levels higher and as a result, the Memecore price has recovered the past 24-hour losses. Moreover, the price, which is just 20% away from new highs, could eventually form a new ATH in the next 24 hours. But here’s a catch!
The chart for MUSD/USDT shows price action consolidating within a descending triangle pattern, with resistance forming along the downward trendline. The Gaussian channel highlights the broader bullish momentum from early September, but the price has recently slipped below the mid-channel support, indicating weakening strength. After briefly breaking down toward $1.70, the price rebounded sharply back above the $2.20 support zone. The stochastic RSI indicates overbought conditions, suggesting short-term exhaustion. If the M price sustains above the Gaussian channel re-entry, it could retest $2.60; failure to hold the $2.20 support may open downside risk toward $1.90. Momentum remains fragile despite the recovery.
The short-term price action indicates a positive outlook, as the token has surged above the resistance-turned-support level between $2.10 and $2.15. However, the token is facing some resistance below the pivotal zone. The long-term price action suggests a bullish continuation, while reaching $3 seems to be a tedious job in the next 24 hours. Meanwhile, if the market sentiments change, the Memecore (M) price may achieve new highs. Besides, the rally could remain short-lived until the bullish sentiments strengthen.