Should traders expect USELESS to rebound now after surge in Volume, Open Interest?

USELESS might be be stabilizing after a week of sustained pressure, with the price reacting positively from a familiar demand zone around $0.050–$0.056. This demand zone has initiated several rejections in the past, with the latest reaction suggesting that buyers may be stepping in again. Not aggressively, but with enough consistency to slow the decline and form a base. The most recent rejection came after a key breakout from a pennant trading pattern just a week ago. At the time of writing, the price was hovering above this zone at around $0.0593. The repeated defence of this region matters since the markets tend to obey price levels where strong reactions previously occurred. Source: TradingView Rising volume and Open Interest signal renewed engagement Zooming down to the network’s on-chain metrics, there has been a gradual increase in participation. For instance – USELESS’s spot volume climbed by 13% to $5.95 million over the last 24 hours. The surge suggested that traders may be beginning to re-engage with the market as the price stabilizes itself. When the volume rises upon the price action support reaction, it often reflects early positioning rather than late-stage chasing. Source: Messari That’s not all though as the token’s Open Interest also increased by 6% to $11 million. That adds more weight to the likelihood of a rally continuation as institutional demand surges too. Still, the pace has been controlled so far, keeping expectations grounded. The market may be building interest, but it hasn’t fully committed to a strong directional move yet. Source: Coinalyze Demand zone holds for now From a structural perspective, USELESS could also be transitioning out of its correction phase. The repeated defence of the $0.50–$0.56 range suggested that sellers might be losing some control, even though buyers haven’t fully taken over either. This creates a balanced setup. If the demand zone continues to hold and participation continues to improve, the market could gradually shift towards recovery. However, if momentum stalls, the price may continue to range within this zone before making a clearer move. A quiet build, not a confirmed breakout Put simply, USELESS didn’t look like it’s breaking out. Instead, it might just be rebuilding. The conditions for a potential continuation may be forming, with support holding and activity ticking higher. However, continuation depends on a follow-through buying spree. If buyers can maintain pressure and push the price away from the demand zone with conviction, the current setup could evolve into a stronger upward move. If not, the market may remain in consolidation as it searches for direction. Hence, the key takeaway is simple – Bearish momentum has slowed down, interest may be returning, and the next move will likely depend on the demand zone strength. Final Summary USELESS has been holding a key demand zone between $0.50 and $0.56 after a week of correction. Rising volume and Open Interest hinted at early signs of renewed market participation.