The recent rebound of USELESS is mainly driven by short-term sentiment and lacks fundamental support, exhibiting clear characteristics of range-bound volatility. The key current support level is $0.034, with resistance at $0.038, and the potential for further upside in the short term is limited. Participation is advised only for moderate range trading, with strict take-profit and stop-loss execution, and caution is warranted for the risk of sharp pullbacks if sentiment fades.

Market reports released on April 1 indicate that USELESS, as a 'transparent and non-utilitarian' token, once soared to a market cap of $450 million, revealing the market’s blind pursuit of 'hype' assets. Such news temporarily intensified speculative sentiment, prompting some funds to enter high-risk contract products. Driven by a foundationless headline effect, the market saw a notable short-term recovery in sentiment, but significant volatility risks remain under the surface.

Starting from the March 26 low of $0.02989, the USELESS contract price posted higher highs and higher lows for several days, rallying about 11.3% from April 2 to 9. On April 8, with nearly 200 million contracts traded, this round of rebound reached its high at $0.03888, then trading volume dropped and it closed at $0.03533, indicating that while capital inflows weakened, a bullish pattern began to take shape. Alongside moving averages turning upward, this can be seen as a technical rebound in short-term sentiment driven by news catalysts.

Although short-term capital flows have been frequent due to news-driven stimuli, the lack of project fundamentals and substantial utility means prices could quickly retrace once market attention diminishes. Currently, support near $0.034 and resistance at $0.038 merit close watch. Short-term traders may capitalize on swing opportunities within this range, but must strictly enforce take-profit and stop-loss rules to guard against violent volatility risk triggered by sentiment reversal.

Useless Coin

It’s not a given that the European Central Bank’s next move on interest rates will be a hike, according to Governing Council member Martins Kazaks.

Kazaks: Will not oppose bets on two interest rate hikes this year

Waller: Rapid resolution of the Middle East situation may allow for interest rate cuts later this year.

Waller: Overall PCE inflation year-over-year in March may reach 3.5%

The Federal Reserve's Waller expressed caution regarding interest rates, warning of the risks of prolonged warfare.

Fed's Daly: Rates May Remain Unchanged

Daly: The federal funds rate is slightly above the neutral level of 3%.

UBS Expects 50 bps Fed Rate Cuts as Gov Miran Downplays Inflation Risks

Federal Reserve's Daly: On hold regarding interest rates.

Easing tensions in the Middle East combined with rising expectations of interest rate cuts have pushed gold close to $4,900.

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Useless Coin Price: USELESS Live Price Today | USELESS Market Cap & Chart Analysis | Bybit

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USELESS price today is 0.05, with a live price change of -1.91 in the last 24 hours. Convert, buy, sell and trade USELESS on Bybit.

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