Altcoins like SPX, INJ, and SAND are trending today due to significant price movements and increased market attention. SPX has surged 17% in the last 24 hours, reaching a market cap of $1.4 billion and securing its position as the 9th largest meme coin.
Meanwhile, INJ is up nearly 13%, with its trading volume soaring by 123%, as it approaches key resistance levels that could push it into the top 50 cryptocurrencies. SAND, recovering from a 20% decline last month, has gained over 10% in the past day, with bullish momentum potentially driving it toward higher resistance levels.
SPX6900 (SPX)
SPX has experienced significant growth, reaching a market cap of around $1.4 billion after a 17% increase in the last 24 hours, making it one of the best-performing altcoins in the market. This surge has positioned SPX as the 9th largest meme coin, surpassing FARTCOIN and closely trailing BRETT, the top meme coin on Base chain.
If the uptrend continues, SPX could target $1.60 and potentially $1.70 for the first time. Breaking these levels would further solidify its position among the top meme coins and attract additional interest. However, sustaining this momentum will require consistent buying pressure.
SPX Price Analysis. Source: TradingView
A correction remains possible, given SPX’s 71% rise over the past week. If selling pressure increases, SPX could test the strong support at $0.93. Further declines could push the price down to $0.81 or even $0.61, depending on the strength of the correction.
Injective (INJ)
INJ has surged nearly 13% in the last 24 hours, cementing its position as one of the most relevant altcoins at the moment. Currently ranked 55 by market cap, INJ is making strides toward entering the top 50 cryptocurrencies. This recent growth has been accompanied by a significant uptick in trading volume, which is up 123% over the same period, reaching $259 million.
INJ EMA lines have shown strong bullish signals, with two golden crosses forming in recent days and another one potentially on the horizon. If the current uptrend continues, INJ could test the resistance at $26.5. Breaking through this level could pave the way for further gains, with targets at $29.4 and possibly above $30 if momentum remains strong.
INJ Price Analysis. Source: TradingView
However, a downtrend remains a possibility, especially given the recent sharp gains. If selling pressure increases, INJ could test the $23.9 support level. A break below this could lead to further declines, with $19.7 emerging as the next critical support to watch.
The Sandbox (SAND)
SAND has gained over 10% in the last 24 hours, reclaiming its position among the top 100 altcoins by market cap. After a challenging month that saw its price drop by 20%, SAND is attempting to recover with renewed bullish momentum. Its market cap currently stands at $1.69 billion, signaling increasing interest from investors.
If the positive momentum continues, SAND could rise to test the resistance at $0.71. A successful breakout above this level might pave the way for further gains, with $0.83 as the next key target.
SAND Price Analysis. Source: TradingView
However, downside risks remain if the $0.65 support fails to hold. In that scenario, SAND could face additional selling pressure, potentially dropping to test support levels at $0.57 and $0.52.
