The Crypto Market Overview

The crypto market had a rather stable week, with лидерь Bitcoin safe from witnessing any sharp rise or fall. This extended to the meme coins as well, with the lack of volatility resulting in altcoins taking a direction.

BeInCrypto has analyzed three meme coins that took different directions as the market conditions improved.

Toshi (TOSHI)

TOSHI saw a 22% decline this week, but it managed to hold above the critical support level of $0.000331. This resistance has helped prevent further downside, though the ongoing bearish trend has put the meme coin under pressure.

If the bearish momentum continues, TOSHI risks falling below the $0.000331 support, potentially hitting $0.000194. A drop to this level would result in significant losses for investors and may signal deeper bearish sentiment in the market.

Source: TradingView

Should TOSHI manage to bounce off the $0.000331 support, a recovery toward $0.000420 is likely. A breach above $0.000420 could propel TOSHI towards $0.000577, indicating a potential rally.

Peanut The Squirrel (PNUT)

PNUT has experienced minimal price movement, slipping by 4% over the last seven days to trade at $0.163. Unlike many altcoins, it neither saw a significant surge nor a sharp decline. The price action has remained relatively stable, reflecting the market’s cautious sentiment toward the meme coin.

There is a chance that PNUT could face further declines, potentially testing the support level at $0.152. If the price fails to hold this level, it could fall to $0.137, signaling increased bearish pressure.

Source: TradingView

However, if PNUT capitalizes on a recovery and benefits from improving market sentiment, it could rise to $0.182, invalidating the current bearish outlook.

SPX6900 (SPX)

SPX has performed exceptionally well this week, registering a 26% gain. The altcoin is trading at $0.427 at the time of writing, positioning itself as one of the top-performing tokens.

SPX is currently testing the $0.406 support level. If successful, it could see further upside, targeting $0.568. This would help recover losses sustained toward the end of February.

Source: TradingView

If SPX fails to maintain $0.406 as support, it could face a sharp decline, falling to $0.250 and marking a significant drop.