Top Crypto Gainers: PancakeSwap, Aster, and SPX6900 rebound with double-digit gains
- PancakeSwap bounces off its 200-day EMA to resurface above $3.00 after the Friday crash.
- Aster holds above $1.00 with short-term recovery gaining momentum.
- SPX6900 edges lower after the 28% rebound on Sunday, trading above $1.25.
PancakeSwap (CAKE), Aster (ASTER), and SPX6900 (SPX) secured over 20% gains in the last 24 hours, a rebound after the biggest sell-off move ever in the cryptocurrency market on Friday. Technically, the bounce back shows potential to extend the upward trend, but uncertainty due to US President Donald Trump’s announcement of a 100% tariff on China over critical software could keep the market on edge.
PancakeSwap holds the Sunday’s gain, with bulls eyeing further gains
PancakeSwap trades above $3.400 at press time on Monday, holding the 29% gains from Sunday. The Decentralized Exchange (DEX) token rebounded on Sunday from the 200-day Exponential Moving Average (EMA) and a local support trendline, forming a bullish engulfing candle to end the streak of four consecutive days of losses.
The immediate resistance for CAKE lies at the $4.515 level, which marked the reversal point on Wednesday. A decisive close above this level could extend the CAKE rally to the $6.603 level, aligning with the 1.272 Fibonacci extension level, drawn from the $4.515 peak from December 2 to the $1.116 low of February 3.
The Moving Average Convergence Divergence (MACD) remains indecisive after the bearish crossover on Friday. At the same time, the Relative Strength Index (RSI) resurfaces above the midpoint level to 54, indicating a neutral stance.
CAKE/USDT daily price chart.
If CAKE fails to uphold the recovery run, it could retest the 50% retracement level at $2.245.
Aster eyes to extend the recovery run above $1.50
Aster edges higher by 1% at the time of writing on Monday, extending the 23% gains from the previous day. The perp DEX token experienced a rebound due to buybacks of 100 million ASTER on Saturday, creating demand by reducing supply.
The Binance-backed DEX token trades hold above $1.50 on Monday, with the centre Pivot Point level at $1.60 acting as the immediate hurdle on the 4-hour chart. If ASTER closes above this level, it could challenge the R1 Pivot Point level $2.10.
The MACD and its signal line restart an upward trend with a crossover on Sunday, signaling a rise in bullish momentum. Additionally, the RSI remains flat at 48, indicating a decline in selling pressure.
ASTER/USDT daily price chart.
Looking down, if ASTER reverses from the $1.50 psychological level, it could test the $1.15 low from Friday.
SPX6900 struggles to extend the rebound
SPX6900 meme coin edges lower by 3% at press time on Monday, taking a breather after the 28% rise on Sunday. The meme coin flips from the R1 Pivot Point resistance at $1.35, with the intraday pullback hinting at a retest of the center Pivot Point level at $1.12.
The RSI at 50 remains neutral following a rebound on the weekends. Meanwhile, the MACD and its signal line extend the sideways movement after convergence, signaling short-term indecisiveness.
SPX/USDT daily price chart.
If SPX surfaces above $1.35, it could further stretch the recovery run to $1.73.
Author
Vishal Dixit
FXStreet
Vishal Dixit holds a B.Sc. in Chemistry from Wilson College but found his true calling in the world of crypto.
