Useless coin price forecast: Can USELESS remain stable after a 60% increase?

USELESS Price Trend Analysis: Short-term Risks and Opportunities under Overbought Signals

This week, USELESS became one of the strongest performing targets in the cryptocurrency chart. The current discussion of price forecasts for USELESS tokens is no longer focused on whether the rebound is real, but on how far an already high market can extend. The token has increased by approximately 60% in the past 24 hours, trading at close to $0.235, and in the past month, its cumulative increase has exceeded 400%.

Such vertical gains usually raise the question when traders watch the market: Is the rally sustainable or is it rising too fast and too hard?

Why is the price of USELESS rising so fast?

Part of the answer lies in positioning the position, not just the price itself. Before the strong breakthrough, USELESS had been consolidating for several weeks in the tightened trading channel, and this breakthrough seemed to have caught a considerable number of bears off guard. As one of the active Solana memes launched through the Raydium platform, USELESS's holder base is also growing steadily, currently approaching 48,890 addresses, according to solscan.io. This suggests that participation is expanding rather than being concentrated in a few wallets or limited to early buyers.

Are USELESS derivatives traders bullish?

According to CoinGlass data, the futures market confirmed the strength of this wave. Open Interest climbed from about $20 million in mid-August to more than $110 million a few days later, and is now closer to $138 million, showing traders are willing to add new leverage exposure in the rebound rather than short.

The 24-hour futures trading volume was close to US$1.53 billion, dominated by Binance and OKX, confirming that this is not a liquidity-starved market.

Liquidation data reveals a deeper story. In the past 24 hours, short positions accounted for the vast majority of forced liquidations, close to US$3.89 million, while long positions only accounted for approximately US$832,000; the 4-hour window also showed the same tilt, with short liquidations of US$759.26 million and long positions of US$127.52 million. This imbalance suggests that short squeezing is playing a substantial role behind the headline percentage increase, rather than just spot buying.

However, the current position is not one-sided, but mixed. The long-short account ratio on Binance is 0.7027, OKX is 0.64, the account ratio of Binance's top traders is 0.6134, and the position size ratio is 0.9672. This means that even after squeezing, the number of short accounts still exceeds that of long accounts on all indicators. This mismatch between price actions and position positioning is noteworthy because it not only leaves room for further upward squeezing, but also means that if sentiment reverses, a more severe reverse correction may occur.

USELESS Price Performance

In terms of price performance, the token has risen by approximately 14% in 4 hours, by more than 60% in 24 hours, by approximately 239% in the past week, by nearly 409% in 30 days, and by more than 269% year-to-date. This trend is mainly one-way, with a lack of meaningful pullbacks since the breakthrough began.

What does the USELESS daily chart show?

TradingView's daily chart tells a clear structural story. USELESS traded within a given range for several months, then compressed into the rising channel, and decisively broke through upward, closing well above the top of the previous range.

The high above the K-line was close to US$0.2352 and the low was around US$0.1948, an unusually wide range of daily fluctuations for previously relatively quiet tokens. Momentum indicators confirmed the strength of the market, with the Relative Strength Index (RSI) reading above 90, an extreme level that usually indicates that assets are overbought in the short term rather than an independent reversal signal.

Current resistance is at $0.30829, followed by $0.44464,$0.50412 and $0.59982. A confirmation of closing above $0.30829 could open the door to $0.44464, as it would clear the first major supply area to break above. If the current level cannot be maintained, the support level will be refocused at US$0.10023. If the overall breakthrough structure completely fails, the deeper buffer area may be around US$0.05791 and US$0.03088.

USELESS Token Price Prediction: What Will Happening Next?

The short-term path may depend on whether buyers can absorb current overbought readings without capitalizing on the breakout. If prices remain above the US$0.10023 to US$0.20 range (previously used as resistance and now need to turn into support), a move to US$0.30829 is a reasonable benchmark scenario. If we can continue to break through this level and receive continued "short covering" support in subsequent transactions, US$0.44464 will become the next target. On the contrary, if continuous rejection is encountered at the current level and open interest is unwind, it indicates that the rally needs to cool down before it can be further extended; if momentum weakens, US$0.10023 will be the first key area to pay attention to.

Expert opinion: Overbought does not mean excessive

According to CoinGabbar analysts, the primary issue is whether USELESS can maintain its breakthrough structure, which the chart currently supports given its strength away from previous ranges. The second is whether the current pace is sustainable in the short term, with an RSI above 90 indicating that this is unlikely without at least one Consolidation phase. The key confirmation signal to watch for is whether the pullback towards the $0.20 area is being bought quickly or is starting to deepen, as this could mark the exhaustion of squeeze fuel. The main risk in this setting is the rapid unwind of open interest, which could accelerate any correction given the large amount of leveraged funds that the market has entered in the past week.

Conclusion

This month, USELESS provided one of the strongest breakthroughs in the memin market, with real chart breakthroughs, real short squeeze and increased participation making this market more substantial than typical low-liquidity pulses. At the same time, the RSI exceeds 90 and the long-short ratios on major exchanges are still biased towards the short, which means that there is a real risk in both directions in this setting. Traders who follow the story of USELESS token price movements from here may focus less on the next headline number and more on whether $0.10023 will hold firm as a support level in any pullback.

Disclaimer : This article is for information purposes only and should not be regarded as financial or investment advice. The cryptocurrency market is extremely volatile and prices can change rapidly. Readers should study for themselves before making any investment decisions.