Top Meme Coins Show Strong Moves After Fed Rate Cut
MYX Finance (MYX), MemeCore (M), and Fartcoin (FARTCOIN) led gains in the last 24 hours. The broader crypto market is recovering after the US Federal Reserve cut interest rates by 25 basis points on Wednesday. Traders are showing renewed interest in meme coins, expecting further price gains. However, MYX Finance faces mixed signals from technical indicators.
MYX Finance Faces Resistance Near $18
MYX Finance trades above $16 but fell nearly 6% on Thursday after a 52% jump the day before. The price pulled back near its all-time high of $19 on the 4-hour chart. If the drop continues, MYX could test support at the 50-period Exponential Moving Average (EMA) near $12.48 and then $9.83.
Technical indicators show cooling momentum. The Relative Strength Index (RSI) dropped from overbought levels to 62, leaving room to fall further. The Moving Average Convergence Divergence (MACD) and signal line still rise, but shrinking histogram bars suggest weaker bullish strength.
If MYX breaks above $19, it may rally toward the next resistance at $26.72.
MemeCore Nears $3 Record High
MemeCore rose 3% on Thursday, adding to a 15% gain from Wednesday. It hit a record high of $2.99 the day before. Bulls expect it to break above $3 soon. A close above $3 could push the price to $3.19, the next resistance level.
The 4-hour RSI stays overbought at 75, showing strong buying pressure. The MACD crossed above its signal line, signaling a bullish trend. Support lies at the 50-period EMA around $2.31 if the price pulls back.
Fartcoin Struggles to Break 200-Day EMA
Fartcoin slipped 1% near the 200-day EMA at $0.9309 on Thursday. It could not build on a 6.76% gain from the previous day. The pullback pauses the recent recovery after a falling wedge breakout on the daily chart.
If Fartcoin breaks above $0.9309, it may reach the 50% retracement level at $1.0748. The RSI remains above 50 at 54, indicating bullish momentum. The MACD is rising toward the zero line, supporting a positive trend.
On the downside, a further drop could test support near $0.6839.
