USELESS Price Analysis: Solana Memecoin Flashes 50% Crash Potential
By: Yashu Gola
Published: Sep 09, 2026
Overview
USELESS (USELESS), a memecoin based on the Solana blockchain, has experienced a remarkable surge of over 900% since its low in August, currently trading around $0.337. However, analysts warn that this rally may not be sustainable, with potential for a significant price correction.
Market Dynamics
The current market sentiment indicates a heavy downside liquidation risk for USELESS. A drop to $0.1483 could trigger approximately $4.46 million in long liquidations, highlighting the vulnerability of traders who have taken leveraged long positions.
Data from CoinGlass reveals a significant imbalance in leveraged positions, with more long positions exposed below the current price compared to short positions above it. This suggests that a decline could lead to forced selling, exacerbating the price drop.
Technical Analysis
Liquidation Map Insights
The liquidation heatmap indicates that if USELESS rises to around $0.347, about $540,000 in short positions could be liquidated. However, the potential downside is much larger, with a significant concentration of long liquidations at the $0.1483 level.
Bearish Technical Setup
On the four-hour chart, USELESS is forming an ascending broadening wedge, a pattern that typically signals increasing volatility and weakening trend control. The price is currently testing the upper boundary of this wedge, but momentum indicators suggest a weakening rally.
The relative strength index (RSI) shows a bearish divergence, indicating that while prices are rising, the momentum is decreasing. This could lead to a reversal, with potential targets for a decline set at $0.16–$0.17, representing a nearly 49% correction from current levels.
Conclusion
Given the current market conditions and technical indicators, USELESS appears to be at risk of a significant price correction. Traders should be cautious, as a decline towards the identified liquidity levels could trigger a cascade of liquidations, further driving down the price.