USELESS rallies as whales, Top PnL traders and new wallets drive inflows — watch $0.036 support and $0.045/$0.05 resistance
USELESS surged in two waves of coverage: an initial memecoin-led rally saw the token rise as much as ~30% with big spikes in volume and liquidity, followed by a later, more detailed on-chain read showing a 17–29% price move driven by coordinated buying from Top PnL traders, whale accumulation and strong inflows from new wallets. Nansen data shows Top PnL traders added roughly $75K (about 3x normal), whales added ~$60K (lifting whale holdings to ~$77M, average whale buys ≈340K USELESS), and new wallets contributed ~ $351K (>220% spike). Exchange outflows and dormant smart-money holdings reduced immediate sell pressure while market makers (Wintermute) provided liquidity despite some bot selling near $0.045. Technicals: key short-term support is at $0.036 (Feb 14 order block); decision / resistance zone sits at $0.045 with nearby resistance around $0.05 and a further breakout target near $0.055–$0.07. Momentum readings are mixed — short-term indicators show positive momentum in earlier coverage but later signals (rising MACD seller momentum, Choppiness ~49) suggest waning trend strength and a still range-bound token. Leverage metrics earlier showed rising long/short ratios and open interest >$100M on some venues, signalling increased speculation and potential volatility; exchange-specific flows (notably Gate.io showing selling bias) may prompt venue-driven risk. Traders should monitor on-chain inflows, exchange outflows, whale wallets, open interest and the $0.036 / $0.045 levels for short-term direction. A sustained daily close above $0.045–0.05 would support targets up to $0.055–0.07; a break below $0.036 would likely accelerate downside.
Bullish
Net inflows from Top PnL traders, whales and a surge of new-wallet deposits point to genuine demand and reduced immediate sell pressure due to exchange outflows and dormant smart-money holdings. Combined with rising open interest and higher long/short ratios on several venues, these signals indicate speculative conviction that can fuel a near-term continuation if key resistance is cleared. Technicals identify clear decision points: a sustained daily close above $0.045–0.05 would validate the bullish momentum and open targets in the $0.055–0.07 area. However, mixed momentum indicators and exchange-specific selling (e.g., Gate.io) increase short-term risk and mean the move could fail; a break below $0.036 would likely accelerate losses. Overall, the balance favors a bullish bias for USELESS while above $0.036, but conviction depends on on-chain flows, open interest behavior and whether price can hold above the $0.045 decision zone.