Meme coins are making waves in the cryptocurrency market, with LUNA, HOUSE, and TURBO emerging as significant players

LUNA has surged by 92% in the past week, driven by the momentum of the Virtuals Protocol ecosystem, while HOUSE has gained nearly 26% despite a recent pullback.

Meme coins have been making a splash in the cryptocurrency market, with LUNA, HOUSE, and TURBO emerging as significant players showing impressive price action and rising trading volumes.

LUNA, known for its role in the Virtuals Protocol ecosystem, has surged by 92% in the past week, while HOUSE, a Solana-based meme coin, has gained nearly 26% despite a recent pullback. TURBO, on the other hand, has spiked 25% in just 24 hours, signaling a growing interest among traders.

LUNA poised for more gains as it tests $0.032 resistance

LUNA, a token launched in October with a total and maximum circulating supply of 1 billion and a fully diluted valuation (FDV) of $25.9 million, is the fourth-largest token in the Virtuals Protocol ecosystem, following VIRTUAL, AIXBT, and VADER.

The recent surge has positioned LUNA to test resistance at $0.032, with potential for further gains up to $0.041 if the upward momentum continues. However, should it break below the support level at $0.0228, LUNA could see its price drop to $0.0173, erasing some of its recent gains.

HOuse faces critical support at $0.063 as buyers return

HOuse, a new Solana meme coin launched in April, has also been capturing attention in the meme coin space. With a circulating supply of 998.76 million tokens and a maximum supply of 1 billion, its FDV stands at $82.52 million.

Despite experiencing a 15% dip in the last 24 hours, HOUSE remains up nearly 26% for the week. It quickly reached a market cap of over $100 million, showcasing its popularity among Solana meme coin traders.

If the price continues to pull back, key support lies at $0.063; losing this level could see it fall to $0.047. Conversely, a return of buyers could help HOuse retest $0.13, potentially reaching a new all-time high of $0.15.

TURBO soars 25% as trading volume triples

TURBO, a token launched in May 2023, has a total and maximum supply of 69 billion tokens and a staggering FDV of $397.69 million.

Over the past week, TURBO has jumped nearly 30%, with a remarkable 25% gain in just 24 hours. Its trading volume surged over 200%, hitting $282 million, which is about 70% of its market cap.

If this momentum continues, TURBO faces resistance levels at $0.0059 and $0.0063, with a breakout above these levels potentially pushing the price to $0.0093. However, if buying pressure weakens, support at $0.0047 becomes critical; a break below this could trigger a drop to $0.0034 or even $0.00249.

As these meme coins continue to heat up the crypto space, traders will be closely watching to see if they can maintain their momentum and break through key resistance levels.

Bitcoin (BTC) formed a golden cross on its daily chart, with the 50-day exponential moving average (EMA) crossing above the 200-day EMA, a classic bullish signal that often indicates the onset of a longer-term trend reversal.

Currently priced at $96,516, Bitcoin is trading above all significant moving averages and has recovered much of the ground lost during the February-March breakdown. On May 1, Bitcoin saw net inflows of $422 million into spot ETFs, with BlackRock’s IBIT leading the way with $351 million.

This substantial institutional interest may provide protection against further drops, especially as Bitcoin approaches the price range where its last breakdown occurred.

At these levels, markets often pause to consolidate, setting the stage for a potential breakout. A consolidation between $94,000 and $97,000 could reset the relative strength index (RSI), shake out weak hands, and prepare for a potential move above $100,000.

Ethereum's ETF activity, in contrast, saw much lower net inflows of $6.49 million, with outflows reported by Grayscale's ETHE.

As Bitcoin approaches the price range where its last breakdown occurred, markets often pause, and a consolidation between $94,000 and $97,000 could reset the RSI, shake out weak hands, and prepare for a potential breakout above $100,0