The entire crypto market suffered a drawdown owing to macro financial conditions. Yet some meme coins managed to post considerable gains in the span of 24 hours led by Freysa AI.
BeInCrypto has analyzed two other meme coins for investors to watch as the market turns cautious.
SPX has surged by 50% in the past week, with a 7% increase in the last 24 hours. Trading at $1.70, the meme coin is positioning itself to breach the $1.77 resistance. If successful, this would mark a new all-time high (ATH) and further extend its rally toward $1.85.
SPX is showing significant upward momentum, with no immediate resistance holding it back. The coin is likely to breach $1.77 soon, possibly within the week. This would establish a new ATH, the first for SPX since January, continuing its bullish trend.
However, if investors decide to sell, SPX could lose the support at $1.55. This would lead to a potential drop towards $1.20, negating the current bullish outlook. A significant selling spree could trigger a major decline, reversing the gains made over the past few days.
FAI has seen a 15% rise in the last 24 hours, currently trading at $0.0231. This upward momentum has brought the meme coin close to the $0.0243 resistance. If FAI can break through this level, it may continue its bullish trend, aiming for higher price targets.
The meme coin is comfortably above its 50-day EMA, suggesting the bullish momentum could remain intact. If FAI successfully breaches the $0.0243 resistance level, it may continue its climb, targeting $0.0261. This would mark a key technical breakout and further validate the ongoing positive trend for the token.
However, if FAI fails to break the $0.0243 resistance once again, it could face a decline. Falling below this level might lead to a drop toward $0.0208. Such a retreat would invalidate the current bullish outlook, signaling potential price weakness for the meme coin.
SIREN experienced a whiplash over the last 24 hours but managed to recover, posting a nearly 10% rise from the previous day’s lows. Trading at $0.150, the meme coin is poised for further gains. Its strong recovery suggests it may continue rising as bullish momentum builds.
The $0.156 resistance has plagued SIREN for over two weeks. However, the Bollinger Bands are converging, signaling a potential squeeze release. This could result in a surge in volatility, and if the momentum remains bullish, SIREN might break through the $0.156 barrier and climb toward $0.172.
If SIREN fails to breach the $0.156 resistance, history could repeat itself, causing a drop back to $0.139. Such a pullback would invalidate the bullish outlook, erasing the recent gains. The failure to break this resistance level may point to ongoing price struggles.
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