Top Crypto Gainers: SPX6900, Worldcoin extend rally as Pump.fun hits resistance
- SPX6900 recorded near 15% gains on Sunday, eyeing further gains.
- Worldcoin eyes further gains above $1 as the uptrend marks its fourth consecutive day.
- Pump.fun recovery risks a bearish turnaround from a crucial psychological resistance level.
The broader cryptocurrency market records a mild bullish start to the week, with altcoins such as SPX6900 (SPX), Worldcoin (WLD), Pump.fun (PUMP), leading the recovery. The technical outlook remains mixed for PUMP while bulls anticipate further gains in SPX and WLD.
SPX6900 recovery run targets 100-day EMA breakout
The SPX6900 meme coins recorded a 14.91% jump on Sunday, extending the bounce off a support trendline formed by connecting the March 11 and April 9 lows. At the time of writing, SPX edges low by 0.50% on Monday, holding onto the weekend gains.
The sudden recovery reclaimed the 200-day Exponential Moving Average at $1.1873 and the 61.8% Fibonacci level at $1.2112, which is extended between the $1.8032 high of January 19 and the $0.2534 low of March 11. If SPX marks a decisive close above the 100-day EMA at $11.3363, it could target the 78.6% Fibonacci level at $1.4715.
A bullish bias in momentum indicators on the daily chart backs upside potential. The Moving Average Convergence Divergence (MACD) extends the uptrend after crossing above its signal line on Saturday, signaling a gradual rise in trend momentum.
Additionally, the Relative Strength Index (RSI) reads 49 on the same chart, recovering to neutral levels from near the oversold region, suggesting that the buying pressure is resurfacing.
SPX/USDT daily price chart.
Looking down, a potential drop below the 61.8% Fibonacci level at $1.2112 could test the 50% retracement level at $1.0283.
Worldcoin eyes 200-day EMA breakout for further gains
Worldcoin edges higher by over 9% at press time on Monday, extending the uptrend for the fourth consecutive day. The WLD recovery run reclaimed the $1.000 psychological level and rose above the 38.2% Fibonacci level at $1.106, which is drawn from $.1648 on May 22 to the $0.771 low of June 22.
If WLD holds the day close above this retracement level, it could extend the uptrend to the $1.210 mark, aligning with the 50% retracement level.
The uptrending MACD and signal line indicate a rise in bullish momentum after the recent crossover on Saturday. Additionally, the RSI at 63 displays a sharp increase in buying pressure.
WLD/USDT daily price chart.
On the contrary, if the trend fails to hold above the 38.2% Fibonacci level at $1.106, it could test the 100-day EMA at $1.018.
Pump.fun at a crucial crossroads risks a bearish turnaround
Pump.fun’s PUMP token ticks lower by 0.50% at press time on Monday, after a 7.35% rise from the previous day. The meme coin launchpad token struggles to reclaim the $0.005000 psychological level as the price action on the 4-hour chart warns of a double top pattern.
If PUMP reverses from the psychological resistance, it could test the 50-period EMA at $0.004195.
Adding to the downside chances, the RSI at 66 on the same chart shows a slight decline compared to the previous peak, signaling a bearish divergence. Still, the MACD inches closer to its signal line for a potential crossover, which would trigger a buy signal with a bullish shift in trend momentum.
PUMP/USDT 4-hour price chart.
Looking up, a clean push above $0.005000 could extend the rally to the $0.006882 record high.
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.
