$USELESS Analysis
USELESS has taken a sharp hit in the past 24 hours, falling more than 12% while daily trading volume slumped 19% to 28.56M $. Despite a late-November breakout above its multi-week downtrend, bulls are struggling to regain momentum, and bears continue to dominate short-term market structure.
On the daily chart, USELESS had been in a steady decline since mid-October, trading around 0.45 $ before finally breaking above the descending trendline at the end of November. This move opened the door for a structural shift. However, bears have aggressively defended the 0.1363 $ level, with tightly clustered daily closes signaling uncertainty and lack of conviction from buyers. The current sideways phase resembles a post-breakout consolidation, acting as a critical retest zone. Holding above the former trendline is essential to confirm a true reversal.
Indicators highlight the tug-of-war between bulls and bears. MACD leans bullish, hinting at buyer strength, while Cumulative Volume Delta shows persistent sell-side pressure as outflows exceed inflows after the breakout. Liquidity pockets are now the primary driver of short-term price action.
CoinGlass data shows over 3.85M $ in short positions stacked near 0.15 $ explaining why bears are fiercely defending 0.1363 $ to avoid a potential short squeeze. Meanwhile, 2.05M $ in long positions sit near 0.098 $, with additional 50x shorts around 0.122 $ creating a liquidity cluster between 0.0925 and 0.1383 $.
If USELESS follows liquidity, price could gravitate toward 0.15 dollars. But renewed sell pressure could trigger long liquidations below 0.11 $ and drag the token lower.
Capital flows paint a worrying picture. USELESS has seen more than 233,000 $ in net outflows this week, making it the third most sold memecoin on Solana. Large holders appear to be rotating into safer assets, raising the risk that whale exits may disrupt USELESS’s recovery structure.
Traders should closely monitor funding flows and order-flow imbalance as they will dictate the next decisive move.
