The post SPX Price Gains Strength as Golden Cross Looms appeared on BitcoinEthereumNews.com.

SPX6900 (SPX) price has surged nearly 30% in the last 24 hours, pushing its market cap close to $1.3 billion and solidifying its position as one of the biggest meme coins. This rapid increase has also driven SPX’s RSI to its highest level since January 19, signaling strong buying pressure but approaching overbought territory. Meanwhile, Smart Money activity shows a net inflow of $35,096, suggesting growing interest from influential traders. Whether SPX continues its uptrend toward $1.8 or faces a correction depends on key resistance and support levels in the coming days. SPX RSI Rises Without Crossing Overbought Threshold SPX6900 RSI surged from 43.5 to 66 in just one day following its recent 30% price increase. That surge also placed SPX in the 6th place among the biggest meme coins in the market. The RSI (Relative Strength Index) is a momentum indicator that measures the speed and magnitude of price movements on a scale of 0 to 100. Readings below 30 indicate an asset is oversold, while levels above 70 suggest it is overbought. A rising RSI reflects increasing bullish momentum, while a declining RSI signals weakening strength or potential price corrections. SPX RSI. Source: TradingView SPX6900 RSI is now at 66, its highest level since January 19, signaling strong buying pressure. While it has not yet reached the overbought threshold of 70, it is approaching a level where traders may start watching for potential exhaustion. If RSI continues rising past 70, SPX price could see further upside but may also become vulnerable to a pullback. However, if RSI stabilizes near this level, it could indicate sustained bullish momentum, allowing the uptrend to continue. Smart Money Records $35,000 Net Flow in SPX In the last 24 hours, two Smart Money addresses accumulated SPX, with one purchasing $3,104 and the other…

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Filed under: News - @ January 31, 2025 2:22 am