7In a surprising turn of events, Solana-based memecoin Useless Coin (USELESS) has defied market expectations with a stunning 110% rally over the past week, climbing to $0.38 and closing in on its previous all-time high.The sudden upswing comes amid a broader attempt by the crypto market to reignite enthusiasm for Solana-based memecoins, which had recently fallen out of favour following the BNB Chain’s dominance in decentralised exchange (DEX) volumes. Yet, while many Solana tokens have struggled to recover, USELESS has emerged as an unlikely winner, rapidly becoming one of the most actively traded memecoins over the past 24 hours.This rally underscores renewed investor confidence and hints that USELESS could be gearing up for a potential breakout into new price territory.

Technical Indicators Signal Strong Bullish Momentum

On the 4-hour chart, technical indicators reflect strong bullish control. The Moving Average Convergence Divergence (MACD) indicator reveals growing momentum, with the EMA 12 (blue) crossing above the EMA 26 (orange), a classic bullish signal. Expanding green histogram bars further confirm that buyers are in command of the market.The Awesome Oscillator (AO) reinforces this sentiment, continuing to print successive green bars above the neutral zone. As of this writing, the AO sits at 0.0739, suggesting the buying pressure remains robust.If this momentum sustains, analysts anticipate that USELESS could retest its all-time high of $0.38, with potential for a breakout that might carry the token into uncharted price levels.This rally is particularly notable considering the current shift in market dynamics, where BNB-based memecoins have been stealing the spotlight. Despite Solana’s recent slip in DEX volume and on-chain revenue, USELESS’s rise signals that the Solana memecoin ecosystem still has life left in it, and may even be preparing for a comeback.

Indicators Suggest Short-Term Cooling Possible

While bullish momentum dominates the charts, certain indicators suggest that the market may soon enter a cooling phase.The Money Flow Index (MFI), which tracks the inflow and outflow of capital into the asset, has surged past the overbought threshold of 80, now sitting at 82.32. This reading confirms heavy buying pressure, but also hints at a potential short-term pullback as traders begin to take profits.Similarly, the Relative Strength Index (RSI) continues its ascent, currently hovering around 74.87, marginally above the overbought zone. This indicates that while buyers remain in control, the market may soon experience a minor retracement to absorb recent gains.Despite these signals, the overall outlook remains decidedly bullish, with analysts noting that short-term corrections are often necessary to establish a stronger foundation for sustained growth. In this case, a brief pause could set the stage for the next leg up.

Fibonacci Levels Outline Key Price Zones

From a technical standpoint, Fibonacci retracement levels provide crucial insight into potential support and resistance zones. Measuring from the recent swing low of $0.13 to the current high near $0.39, the USELESS price now sits close to the 1.0 Fibonacci level, often a precursor to short-term consolidation after a major rally.If the bullish sentiment remains intact, analysts expect USELESS to establish a new support base around $0.31, creating a springboard for a potential move above its previous all-time high.In the event of a mild correction, the 0.786 Fibonacci level at $0.33 serves as the first key support zone. Below that, historical support at $0.21 could provide a safety net if momentum falters.However, a failure to maintain strength above the 1.0 Fib level could open the door for a deeper retracement, potentially testing the $0.21–$0.14 range before the next uptrend resumes.For now, the token’s impressive rebound from $0.13 suggests that bullish confidence remains unshaken.

USELESS Challenges Market Trends as Solana Eyes Revival

USELESS’s rise has arrived at a time when Solana’s broader ecosystem has been under pressure. The network, once the leading decentralised exchange hub, recently lost its top spot in DEX volumes to BNB Chain, which has also begun generating higher protocol revenue.Yet, USELESS’s performance challenges this trend. The token’s rally despite these headwinds, highlights the resilience of Solana’s memecoin community and the potential for renewed market attention.Memecoins on Solana have historically attracted speculative traders and retail investors due to low transaction fees and fast settlement times. The success of USELESS could now reignite market interest, prompting a wave of fresh liquidity into the Solana ecosystem.Analysts argue that if the momentum continues, USELESS could serve as a bellwether for Solana’s next phase of memecoin growth, potentially paving the way for similar rallies among smaller-cap assets.

Outlook: Useless Coin Proves It’s Anything But

Despite its tongue-in-cheek name, Useless Coin has proven to be anything but useless in recent weeks. The token’s 110% rally, coupled with strong technical signals, has placed it firmly in the spotlight among traders looking for high-risk, high-reward opportunities in the memecoin space.While short-term volatility and overbought conditions suggest that a minor pullback could be imminent, the broader technical and sentiment-based indicators remain firmly in the bulls’ favour.If USELESS can maintain support above key Fibonacci levels and attract sustained trading volume, it could break past its $0.38 all-time high and enter a new growth phase, solidifying its position as one of the top-performing Solana memecoins of 2025.