Two of the three meme coins to watch surged more than 370% since Aug. 31, then reversed sharply on Sunday. Bonk (BONK) is the exception, closing higher and near its recent highs.
The three setups now sit at very different distances from their nearest support. That gap, rather than the size of the rally, defines the risk heading into the week ahead.
Bonk Breaks Its Downtrend
Bonk broke above the descending trendline that had capped it since the May 11 high near $0.00000800. The Aug. 21 breakout came on the heaviest volume of the past five months.
BONK has since confirmed $0.00000273 as support, retesting it in early September. The token trades near $0.0000035, up 5.59% in 24 hours, with a market cap of $308 million.
Immediate resistance sits at the Aug. 21 swing high around $0.00000375, followed by $0.00000400. Above those, $0.00000485 lines up with the declining 200-day moving average near $0.00000490, roughly 38% higher.
The Relative Strength Index (RSI) reads 67 and continues to rise. However, BONK still prints lower highs on the higher timeframe until $0.00000485 gives way.
Useless Coin Rejects Resistance After a 373% Run
Useless Coin (USELESS) rallied 373% from its Aug. 31 low near $0.0668 to a Sept. 5 peak of $0.316. That run stalled at the $0.262 to $0.278 resistance zone.
USELESS now trades near $0.2225, down 24.43% in 24 hours, with a market cap of $222 million.
The gap below current levels is the concern. Its 21-day exponential moving average sits at $0.1231, about 45% under spot, while the $0.093 to $0.100 support shelf is roughly 55% lower. Only the $0.20 level stands in between.
That shelf capped USELESS through June and July before the surge reclaimed it. Meanwhile, RSI at 74.2 has started to turn toward its signal line.
MarsCoin Is the Riskiest of These Meme Coins to Watch
MarsCoin (MARSCOIN) has the shortest history of the three, with about five weeks of trading since late July. It climbed about 745% from $0.030 on Aug. 21 to a $0.253 high on Sept. 6.
The token then rejected the $0.240-$0.248 zone and closed the session at $0.1832, down 23.76% for the day.
MARSCOIN shows the widest gap to support of the three meme setups. Its 21-day EMA sits near $0.092, about 50% below, and the $0.060 to $0.066 zone is roughly 67% lower.
Volume peaked on Sept. 4 and has contracted since. In contrast, RSI has slipped only to 71 from 78, with no bearish divergence yet.
The post Top 3 Meme Coins to Watch in the Second Week of September appeared first on BeInCrypto.
Source: https://beincrypto.com/meme-coins-watch-second-week-september/
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