Top gainers in the cryptocurrency space: CAKE, JUP, SPX regain bullish momentum, leading market gains.

PancakeSwap aims for more gains as it regains the $3 mark with double-digit gains.
The short-term JUP rally is approaching a key monthly resistance.
The meme coin SPX6900 reaches an all-time high, surpassing the $2 mark.
Decentralized finance tokens (DeFi), such as PancakeSwap (CAKE) and Jupiter (JUP), have outperformed the broader market recovery over the past twenty-four hours, experiencing a rebound in buying pressure. The technical outlook presents mixed signals, with further gains for CAKE, while a critical resistance level awaits JUP.
Moreover, the meme coin SPX6900 (SPX) ranks third at the time of publication, having recorded a new all-time high by surpassing the $2 threshold. However, the hidden bearish divergence in SPX highlights the gradual escalation of downside trend risks.
CAKE is looking for further gains to $3.535 as it regains bullish momentum.
PancakeSwap rose by more than 2% at press time on Monday, extending its gains of 10% from Sunday. CAKE started the week with a bullish trend as it reached a resistance level of $3.165 that was last tested on February 13.
A decisive rise above this level could extend gains to the $3.535 level, which was last tested on December 13.
The Moving Average Convergence Divergence (MACD) ( shows a recovery in the green histogram bars, indicating a bullish momentum recovery.
The Relative Strength Index )RSI( records 78 on the daily chart, indicating overbought conditions with increasing buying pressure. Investors may want to temper their bullish expectations, as overbought conditions often suggest a quick reversal.
If CAKE fails to register a decisive daily close above the $3.165 level, it may retreat towards the $2.829 level, which previously acted as a resistance level for several months.
The recovery process for JUP is approaching the critical resistance level of $0.6339.
Jupiter maintains dominance above the psychological level of $0.5000 as it rebounds from $0.5131, slightly above the 100-day exponential moving average )EMA( at $0.5105. At the time of publication, JUP is up more than 2%, marking its fourth consecutive day in the bullish direction.
The short-term recovery period in JUP is approaching the resistance level of $0.6339, which was last tested on Tuesday. If JUP maintains the momentum to push cleanly above this level, the increase could extend to the level of $0.7459, which is defined by the low on February 25.
Investors who are on the sidelines may consider the potential golden cross of the 50-day and 100-day moving averages as a buy signal.
Technical indicators point to a bullish attempt to maintain the trend, as the green histogram rebounds to prevent the MACD line from moving below its signal line. The RSI is at 64 on the daily chart as it rebounds from the area above the midpoint line, indicating renewed buying pressure.
On the other hand, if JUP falls below the 200-day exponential moving average at $0.5826, it may retest the 100-day exponential moving average at $0.5105.
SPX reaches an all-time high while the RSI indicates a bearish divergence
The meme coin SPX6900 is currently up by 3%, reaching its all-time high of $2.21 while achieving its fourth consecutive day of gains. As the meme coin enters price discovery mode, the Fibonacci retracement level of 1.272 at $3.07, drawn from the peak of January 19 at $1.80 to the low of March 11 at $0.25, serves as an upper target.
The MACD is moving away from crossing its signal line with new green histogram bars rising from the zero line, indicating renewed bullish momentum.
The relative strength index at 71 enters the overbought zone, indicating increased buying pressure. However, the relative strength index remains steady near the overbought line while SPX hits new highs, indicating hidden bearish divergence. Investors may see this as a sign of a decline in buying pressure, which could lead to a sudden end to the SPX rally.
In this case, a drop below the $1.80 level could extend the decline to test the 50-day exponential moving average at $1.52.