The second week of June is off to a lackluster start for the broader crypto market. Total market capitalization has posted a modest 0.12% increase over the past 24 hours, reflecting continued tepid momentum.
Despite the broader market’s sluggish performance, a few tokens are defying the trend. According to CoinGecko, SPX6900 (SPX), Internet Computer (ICP), and Quant (QNT) have emerged as top gainers and may be worth watching this week.
SPX6900 (SPX)
Meme coin SPX is one of CoinGecko’s top gainers today, climbing 8%. The altcoin trades at a four-month high of $1.25 at press time.
Readings from the SPX/USD one-day chart reveal that the token has traded above an ascending trend line since mid-May, highlighting the market’s sustained buying momentum, even amid the broader market’s pullbacks.
An ascending trend line forms when a token consistently posts higher lows over time. This pattern signals bullish sentiment, suggesting that SPX buyers continue to step in at increasingly higher levels.
If this continues, they could propel its price to $1.35.
However, if profit-taking commences, SPX could shed recent gains and fall to support at $1.21. If this price floor fails to hold, SPX’s value could dip further to $1.11.
Internet Computer (ICP)
ICP is up 11% today and is currently trading at a 26-day high of $5.94. Over the past 24 hours, its trading volume has surged by 154% to reach $165 million, indicating that sufficient demand is backing its price rally.
This trend suggests that actual market participation, not speculative trading activity or low-liquidity spikes, backs the ICP price rally. If this continues, the token’s price could break above $6.12 and rally toward $6.46.
On the other hand, if profit-taking commences, the altcoin’s value could fall to $5.49.
FARTCOIN
Solana-based meme coin FARTCOIN is one of CoinGecko’s top gainers today. It exchanges hands at $1.07, noting a 9% price rally over the past 24 hours.
On the daily chart, its positive Balance of Power (BoP) reflects the growing demand for the altcoin. As of this writing, the indicator is at 0.44.
The BoP indicator measures the strength of buyers versus sellers in the market, helping to identify momentum shifts. When its value is positive, buyers are dominating the market over sellers and driving newer price gains.
If this continues, FARTCOIN’s price could climb to $1.16.
Conversely, if profit-taking resumes, the meme coin’s value could slip to $0.94.
Disclaimer
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