The crypto market appears to be rebounding slightly from last week’s slump, with total market capitalization rising by nearly 2% today. This recovery reflects investor interest, particularly within the meme coin sector.
As sentiment improves, several meme coins have emerged as ones to watch closely this week. The three standout tokens gaining attention include AURA, HOUSE, and SPX.
AURA
AURA, a culture token built on the Solana blockchain, is one of the meme coins to watch this week. At press time, the token trades at $0.18, up over 20,000% in the past seven days.
Yesterday, the altcoin recorded an all-time high of $0.23, from which it has since declined by 25%. At press time, AURA trades at $0.18.
On the daily chart, AURA’s Relative Strength Index (RSI) is above the 70 threshold at 82.67, indicating that the asset is overbought and may be due for a decline, with buyer exhaustion on the horizon.
The RSI indicator measures an asset’s overbought and oversold market conditions. It ranges between 0 and 100. Values above 70 suggest that the asset is overbought and due for a price decline, while values under 30 indicate that the asset is oversold and may witness a rebound.
At 82.67, AURA’s RSI suggests it is overbought and might be due for a pullback. If this happens, the token’s price could fall to $0.14.
However, AURA could reclaim its all-time high and surge past it if the rally persists.
HouseCoin (HOUSE)
HOUSE is up 39% over the past week and 34% over the past day. The altcoin appears poised to extend its weekly gains, making it one of the meme coins to watch this week.
Readings from the token’s Aroon indicator confirm the strength of its current uptrend. At press time, HOUSE’s Aroon Up Line is at 100%.
The Aroon indicator is a technical analysis tool used to identify trend direction and strength by measuring the time elapsed since the most recent highs or lows. When the Aroon Up line is at 100%, it indicates that the asset has reached a recent high within the lookback period, typically 25 periods.
This is a bullish signal for HOUSE, suggesting that the asset is in a strong uptrend and buyers are currently in control of the market. If this continues, the meme coin could climb to $0.051.
However, if profit-taking resurfaces, HOUSE’s price could fall to $0.026.
SPX6900 (SPX)
SPX is up 20% at press time, trading at $1.68. Over the past 24 hours, its trading volume has surged nearly 40% to reach $91 million. This increase in volume reflects the strong demand fueling the token’s price rally and suggests that the current upward momentum is supported by genuine market interest.
When an asset’s price rises with its trading volume, it signals a sustainable uptrend. SPX’s rising volume confirms that more participants are entering the market and transacting at higher prices, reinforcing its uptrend.
If this persists, the altcoin could reclaim its all-time high of $1.80.
On the other hand, if demand stalls, SPX’s value could drop to $1.47.
The post 3 Meme Coins To Watch This Week appeared first on BeInCrypto.
