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Useless Coin [USELESS] gained 12.56% on October 25, 2026, moving higher while the wider cryptocurrency market declined, according to Ambcrypto. Spot volume on the memecoin climbed 19.04% to $19.41 million over the same period, a sign of heavier participation behind the move rather than thin trading.
The rally came alongside rising activity in derivatives markets, and traders betting against USELESS absorbed the larger share of the damage. The report frames the session’s central question as whether the token can convert a technical breakout into a sustained recovery.
Also read: Useless Coin falls 13% as USELESS signals oversold rebound setup
Key facts
- USELESS gained 12.56% while the broader crypto market fell, with spot volume up 19.04% to $19.41 million.
- Derivatives volume rose 13.76% to $147.39 million and open interest climbed 17.92% to $79.97 million.
- Short liquidations reached $73.36K versus $8.91K for longs, per CoinGlass, with OKX at $31.36K, Binance at $19.05K and Bybit at $15.35K.
- The token broke above its descending channel after recovering from the $0.1400 support area.
- Parabolic SAR sat at $0.13890 beneath the market price, and the MACD histogram turned positive at 0.00244.
Leveraged shorts take the hit
Futures activity expanded on both sides of the book, but the price direction pushed losses onto bearish positions. The gap between short and long liquidations — $73.36K against $8.91K — shows that the upside move forced far more traders betting on a decline out of their positions than it did bulls.
OKX accounted for the largest single slice at $31.36K, followed by Binance and Bybit, which the report cites as evidence the pattern ran across exchanges rather than being confined to one venue.
Also read: PEPE Reclaims $2B Market Cap After 20.6% Weekly Rally
Rising open interest alongside a rising price indicates that participants opened new contracts rather than simply closing old ones. The report cautions that open interest alone does not establish whether buyers or sellers control the futures market, and notes that the heavier leverage raises questions about how those positions will behave if the price reverses.
The channel break and the levels above
On the daily chart, USELESS exited a descending channel that had produced weeks of lower highs. The move followed a bounce from the $0.1400 region, and two momentum signals aligned with it: Parabolic SAR held below the price at $0.13890, and the MACD line crossed above its signal line with the histogram at 0.00244.
The report identifies $0.2000 as the next resistance and $0.2500 as the following upside target. A clean break through the first level would strengthen the recovery case, while renewed selling could send the token back toward $0.1400 and undercut the setup.
Why it matters
Memecoins often move on participation and leverage rather than fundamentals, so the combination of higher spot volume and expanding open interest matters more than the headline percentage. For traders holding short positions, the session demonstrates how quickly a breakout in a thinly traded token can convert into forced exits. That dynamic can amplify moves in both directions, and the imbalance in liquidations is a reminder that the crowd on the losing side of a leveraged trade absorbs the cost.
What to watch
Whether USELESS can push through $0.2000 on continued buying is the immediate test; failure there, or a drop back below $0.1400, would invalidate the breakout. Open interest and the next round of liquidation data will show whether fresh capital keeps arriving or the rally was driven mainly by shorts being closed out.
This article is not financial advice. Cryptocurrency markets are volatile and uncertain, and price levels cited here are technical reference points, not predictions.
Reported by ambcrypto.com.
Source: AMBCrypto