The price of SPX6900 (SPX) has experienced significant volatility, rising 25% in the past week but dropping 15% in the last 24 hours in line with a broader correction in the meme coin market. Technical indicators suggest potential further downside or a possible reversal if buying momentum returns. The SPX Relative Strength Index (RSI) has sharply declined to 33.4, indicating heavy selling pressure and weakening momentum, but also suggesting that oversold conditions may be approaching. The SPX BBTrend remains positive at 17.1, showing some underlying bullish sentiment but also indicating the risk of further downside. The current setup of SPX's EMA lines still maintains a bullish stance, but the short-term lines are trending downward, potentially signaling a death cross and further price correction. If the critical support level at $0.937 is lost, the coin may face further declines, but renewed enthusiasm around meme coins could reverse the trend and challenge the nearest resistance at $1.64.



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