USELESS Chart Flashes Warning Signs of 50% Price Drop

The Solana-based memecoin USELESS has seen a near-vertical rally in September, but its chart is now flashing warning signs of a potential price drop. A broadening wedge pattern on the four-hour chart suggests increasing volatility and weakening trend control.

According to technical analysis, if USELESS declines to $0.1483, it would represent a 56% drop from its current price of $0.337. A move towards $0.10 would erase about 70% of its value.

The broadening wedge pattern is formed by two diverging trendlines as price swings become progressively wider. This setup often signals increasing volatility and weakening trend control, particularly after an extended rally like USELESS's.