The crypto market seems to be showing signs of a slight recovery after last week's decline, with total market capitalization increasing nearly 2% today. This recovery reflects renewed interest from investors, especially in the memecoin sector.
As market sentiment improves, several memecoins are drawing attention this week. Among them, three standout tokens are: AURA, HOUSE, and SPX.
AURA
AURA, a cultural token built on the Solana blockchain, is one of the notable memecoins this week. At the time of writing, this token is trading at $0.18, up more than 20,000% in the past seven days.
Yesterday, this altcoin reached an all-time high of $0.23, after which it dropped 25% and is currently trading around $0.18.
On the daily chart, the Relative Strength Index (RSI) of AURA is above the 70 threshold — specifically at 82.67, indicating that the asset is in overbought territory and may soon face a correction due to signs of buying exhaustion.
The RSI indicator is a tool that measures the level of overbought or oversold conditions of an asset in the market, ranging from 0 to 100. A value above 70 indicates that the asset is overbought and at risk of a price drop. A value below 30 indicates that the asset is oversold and may recover.
With an RSI of 82.67, AURA is considered to be in overbought territory and is likely to correct downward. If this occurs, the price could decrease to $0.14.
However, AURA may reclaim its all-time high (ATH) and surpass it if the upward trend continues.
HouseCoin (HOUSE)
HouseCoin (HOUSE) has increased by 39% in the past week and 32% in just the last 24 hours. This altcoin seems ready to extend its rally, becoming one of the memecoins to watch this week.
Signals from the Aroon indicator of the token show that the current uptrend is very strong. At the time of writing, the Aroon Up Line of HOUSE is at 100%.
The Aroon indicator is a technical analysis tool used to determine the direction and strength of a trend by measuring the time since the price reached its most recent peak or trough. When Aroon Up reaches 100%, it indicates that the asset has just reached a recent peak during the observation period (usually the last 25 trading sessions).
This is a bullish signal for HOUSE, indicating that the upward trend is very strong and buyers currently have control of the market. If this momentum continues, the price could rise to $0.051.
However, if profit-taking activity returns, the price of HOUSE could drop to $0.026.
SPX6900 (SPX)
SPX6900 (SPX) is currently up 16% over 7 days, trading at $1.56 at the time of writing. In the last 24 hours, the trading volume of this token has increased by nearly 40%, reaching $91 million. The increase in volume reflects strong demand driving the price increase, while also indicating that the current upward momentum is supported by genuine interest from the market.
When the asset price rises alongside trading volume, it is a sign of a sustainable uptrend. The ongoing increase in trading volume of SPX confirms that more investors are entering the market and are willing to trade at higher prices, thereby reinforcing the upward trend.
If the trend continues, this altcoin could reclaim its historical peak of $1.8.
On the other hand, if demand stagnates, the value of SPX could decrease to $1.47.