Top 3 Crypto Gainers: RAY, AERO, SPX shrug off market volatility, record double-digit growth 

• Raydium records an over 15% surge on Thursday, leading the broader market recovery.
• Aerodrome Finance eyes further gains as a double-digit jump breaks above a critical resistance. 
• The SPX6900 meme coin surges from a crucial support level while momentum indicators flash a warning signal. 

Decentralized Finance (DeFi) tokens, such as Raydium (RAY) and Aerodrome Finance (AERO), alongside SPX6900 (SPX), outperformed the broader cryptocurrency market over the last 24 hours, following the Federal Reserve's decision to keep the policy rates unchanged at 4.25%-4.5% in the June policy meeting. 

With the fourth consecutive meeting keeping federal fund rates unchanged, top cryptocurrencies face pressure, as Bitcoin (BTC), Ethereum (ETH), and XRP (XRP) trade in the red, with losses of under 1% on Thursday. 

Raydium springs back from $2 

Raydium trades in the green by over 15% at press time on Thursday, as it bounces off the $2.00 psychological support level. The price action offers a double bottom reversal on the daily chart with a neckline at $2.58.

A clean push closing above the neckline could turbocharge Raydium’s recovery toward the 200-day Exponential Moving Average (EMA) at the $3.00 round figure. 

The Moving Average Convergence/Divergence (MACD) indicator reverses upside and flashes a buy signal as it surpasses its signal line, known as a bullish crossover. The growth of a positive histogram from the zero line signals potential trend reversal in Raydium.

The Relative Strength Index (RSI) at 50 has spiked to the halfway level from the oversold zone, signaling a boost in bullish momentum. 

RAY/USDT daily price chart.

On the contrary, a failure to close above the double bottom’s neckline could revert RAY towards the $2.00 mark. 

AERO targets extended gains towards $1

AERO edges higher by 3% at the time of writing, following the previous day’s 19% surge. The DeFi token surpasses the 200-day (EMA) and records its highest traded price in over four months. 

AERO marks a concrete closing above $0.81 aligned with the 50% Fibonacci level, drawn from the all-time high of $2.33 to the year-to-date low of $0.282. The immediate resistance lies at $1.04, aligned with the 61.8% Fibonacci level. 

The positive trend in the MACD indicator, with rising green histograms, indicates a strengthening of bullish momentum. However, the RSI line nears the overbought zone, gradually increasing the risk of a pullback. 

AERO/USDT daily price chart.

On the flip side, a reversal below the 50% Fibonacci could nullify upside chances, risking a 50-day EMA retest at $0.63.

SPX recovery warns of a dead cat bounce performance

In a show of underlying strength, the SPX6900 meme coin surged by 13% on Wednesday, undermining the previous day’s 12% pullback. At the time of writing, SPX edges lower by over 1% on Thursday, indicating a breather phase. 

The meme coin faces opposition at the $1.47 support level, aligned with the 78.6% Fibonacci retracement drawn from the all-time high of $8.03 to the year-to-date low of $0.25. Closing above this could drive SPX toward its all-time high. 

However, the increased volatility since last week triggers a bearish crossover in the MACD indicator as it drops below its signal line. A new wave of red histogram bars below the zero line indicates a looming trend reversal. 

Similarly, the RSI at 59, reversing from the overbought zone, indicates a loss of bullish momentum. 

SPX/USDT daily price chart.

A bullish failure to cross above $1.47 could drop SPX towards the 61.8% Fibonacci level at $1.21.