MemeCore shocked the market on Monday with a sharp 14% price rally that liquidated thousands of bearish positions. The token surged from $0.4376 to $0.4949, pushing through a stubborn resistance range and shifting sentiment sharply in favour of the bulls. Traders now eye the $0.50 mark as momentum and technical strength continue to build.
Short Sellers Liquidated as MemeCore Unexpectedly Surges Nearly 14%
Short Margin Short sellers were forced to cover their shorts due to the sharp price increase, resulting in over \$874,800 in liquidations on large exchanges like Binance. Long positions lost only \$286,700, indicating that buyers remained composed. The imbalance reflected a definite shift of power to the bullish control.
The breakout burst through the resistance placed in \$0.46 to \$0.47, holding price action at the ceiling over several sessions. This has resulted in the squeeze, where traders struggle to redefine their strategies under this upward pressure. Everyone is now looking at whether the token can retest new highs.
$M Auto Breaks Resistance to Eyes Psych 50-c Level in Momentum
The break higher through $0.47 gave MemeCore a fresh momentum, and the coin maintained the ground at a psychological mark of $0.50. The token maintained high liquidity as, after posting record trading activity yesterday, daily turnover declined 19 per cent to $32.06 million. Analysts also feel that this consolidation may prepare the next big break.
Strong support has been established at 0.4376, which may be used as a catapult if a retracement is seen. Traders remain optimistic as the market absorbs recent gains. The optimism has led to several people anticipating a new rally past the US$0.50 mark since the mood is positive.
Technical Indicators Support Continued Bullish Trend After Short Squeeze
The bullish sentiment finds confirmation on technical readings as MACD has not dropped below its zero line and is standing at 0.02242. It is not overbought as the RSI is showing 63.75, and it can increase. Such signs keep pace with the existing trend of the market and the increased interest.
Despite the reduced volume, the 4.08 per cent range of volume-to-market cap is a positive indicator. Extreme activity is also seen in the rally by Bybit and Binance Liquidations. Traders are currently closely monitoring the next move, and the bulls are in a position to push the price upwards.
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