Top Crypto Gainers: SPX6900, Pi Network, and Filecoin
SPX6900 (SPX), Pi Network (PI), and Filecoin (FIL) are the top gainers in the last 24 hours. This happened while the overall cryptocurrency market remains under bearish pressure. A rebound in these coins suggests a possible rally. The 4-hour Moving Average Convergence Divergence (MACD) indicator shows a buy signal.
SPX6900 Pauses After Strong Recovery
SPX6900 jumped 5% on Tuesday, breaking above a local resistance on the 4-hour chart. It stayed above the $0.50 mark, a key psychological level. On Wednesday, SPX slowed down and struggled to rise past $0.55.
If the uptrend continues, SPX may face resistance near $0.5727, from Friday’s low. Further resistance comes at the 50-period Exponential Moving Average (EMA) at $0.5807.
The MACD shows a buy crossover. The Relative Strength Index (RSI) at 43 signals less selling pressure.
On the downside, a drop below the S1 Pivot Point at $0.4855 might push SPX down to the S2 Pivot Point at $0.4244.
Pi Network’s Recovery Hits Key Resistance
Pi Network (PI) rose nearly 2% and hovered above the $0.20 level on Wednesday. The token broke out of a falling channel pattern on the 4-hour chart.
The breakout tested the 50-period EMA at $0.2080. A close above this could boost PI’s recovery toward the R1 Pivot Point at $0.2179.
The RSI at 58 shows growing buying interest. The MACD’s green histogram indicates stronger bullish momentum.
If PI fails to cross $0.2080, it might retest the broken resistance around $0.20.
Filecoin Looks to Reverse Downtrend
Filecoin (FIL) rose 2% on Wednesday, extending gains from the previous day. It broke a short-term resistance line on the 4-hour chart as buyers aim to stop the trend of lower highs.
A close above $1.30 could push FIL toward the 50-period EMA at $1.36.
The RSI at 47 is rising from oversold levels. The MACD shows a continued uptrend, signaling more bullish momentum.
If FIL falls back from $1.30, support is likely near $1.20, close to the S1 Pivot Point.
