USELESS Surges Past $0.26 as Upbit Listing Fuels Breakout Potential

The cryptocurrency USELESS (USELESS) has continued its upward trajectory, trading above $0.26 on Tuesday. The meme coin's impressive rally from lows near $0.15 on September 1 to a peak of approximately $0.32 last Saturday suggests strong breakout potential. According to technical analysis, USELESS retains bullish control, hovering significantly above the recently established support at $0.20.

The listing of USELESS on Upbit, one of South Korea's leading cryptocurrency exchanges, has also contributed to its price increase. The exchange offers trading pairs including Bitcoin (BTC) and Tether (USDT) on the Solana (SOL) network. However, there are some caveats: deposits from certain exchanges may be rejected, and users may need to provide verification for high-value transactions.

Despite the listing, the derivatives market shows declining retail demand, with futures Open Interest (OI) softening to 461 million USELESS on Tuesday, down from 483 million the day before. This could indicate a lack of tailwind needed to sustain a continued uptrend.