MemeCore holds above $1, targeting a new record high

MemeCore edges higher by 4% at press time on Thursday, extending the uptrend for the sixth day. The meme coin has shed minor gains after marking a record high of $1.14 on Wednesday.

Still, MemeCore holds dominance over the $1.00 psychological level and challenges the $1.07 resistance, marked by the R1 pivot resistance on the 4-hour chart. To extend the rally towards the R2 pivot resistance level at $1.47, the M token should mark a decisive close above the $1.07 level.
Adding to the optimism, the CoinGlass data reflected that MemeCore's Open Interest showed a 43% rise in the last 24 hours, reaching a record high of $99.4 million. The trading volume of the meme coin at above $1 billion for three consecutive days, indicating increased interest.

The momentum indicators on the 4-hour chart suggest elevated buying pressure as the Moving Average Convergence Divergence (MACD) and its signal line extend the uptrend. Additionally, the Relative Strength Index (RSI) at 77 hovers above the overbought boundary, pointing upwards, signaling heightened bullish momentum.

Looking down, a potential drop below the $1.00 level could test the $0.89 support level, which acted as a short-term resistance earlier this week.
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