Important collection restaurants
SPX fell by 12% in 24 hours, with the demand zone of $ 1.15 now acted as the most important support. Whale accumulation is increasing, but the seller’s dominance on ridiculous and futures markets keeps the downward risks alive.
SPX6900 [SPX] Prices have seen a competitive decrease of 12% in the last 24 hours, at the time of the press. A movement that puts its market structure under intense pressure.
The token traded slightly above the most important demand zone of $ 1.15, a level that could determine whether the recent sales pressure is only a short -term shakeout or the start of a deeper decline.
In the meantime, the stochastic RSI Bullish signals flashed. With the RSI in the sold -over zone, a potential price reversal can be on the horizon.
Source: TradingView
Whale making movements
Whale activity offers a spark of hope for spx bulls that are already in longs positions.
According to ambcrypto recent analysis of cryptoquant whale activity data, large buyers are still stacking orders in this demand zone, indicating that some heavy market players see the dip as an opportunity to collect more long positions.
In earlier cycles, such an accumulation has contributed to the delay of Beerarish Momentum, giving the prices room to breathe and for SPX the same development can come into play.
Source: Cryptuquant
Seller still in dominance despite the bullish indicators
Yet the bias for the market is not entirely bullish. Spot trade remains dominated by sellers, and Futures data show that bears prevail.
That imbalance means that the floor of $ 1.15 will be tested, and whether it applies, can amount to how much conviction these whales bring to the table.
Source: Cryptuquant
What’s for spx
If the buying of Momentum strengthened, SPX could organize a quick rebound, which means that possibly testing resistance levels in the area.
However, if the support does not hold, this can cause a fresh bearish golf – lead to liquidations and push more retail traders out of their positions.
At this point, SPX is at a critical moment. Bull’s relying on large -scale (whale) requirement to stabilize the market, while bears continue to put pressure on broader circumstances.
Traders must keep a close eye on the order book activity around the level of $ 1.15, because this zone will probably determine the next large move, whether it is a recovery or a breakdown.
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