SPX6900 drops 10% – Here’s the KEY level SPX must defend!
The post SPX6900 drops 10% – Here’s the KEY level SPX must defend! appeared on BitcoinEthereumNews.com.
Key Takeaways Why did SPX6900 drop 10%? It failed $1.47 resistance, with Stochastic RSI still above oversold and Futures Taker CVD showing strong seller dominance. Can bulls regain control? Liquidity clusters above $1.25 may fuel rebounds if flag support holds, leaving the next sessions decisive for SPX direction. SPX6900 [SPX] took a sharp hit over the last 24 hours. According to CoinMarketCap, the memecoin’s price fell 10%, at press time, after failing to clear resistance near $1.47 on the daily chart. Of course, it meant that the rejection has now pumped some selling pressure into the market as traders and investors alike seemed to observe whether this move develops into a deeper correction. Technical indicators warn of more downside Technical indicators signaled that the pullback may not be over yet. The Stochastic RSI continued to trend downward but hadn’t entered oversold territory, leaving room for further declines. At press time, the setup pointed to a possible retest of the flag’s lower support zone between $1.18 and $1.20. Holding this level could be crucial for SPX to maintain its broader bullish outlook. Source: TradingView Futures and Spot flows stay weak Adding to the bearish technicals, on-chain metrics did not paint the most optimistic picture either. CryptoQuant’s Futures Taker Cumulative Volume Delta showed sellers remained dominant in the derivatives market, pressing against rallies. Source: CryptoQuant That’s not all, Spot market activity also felt quieter. The Spot Volume Bubble Map highlighted muted demand, with recent clusters in the “heating” zone around $1.20–$1.35, but without follow-through from buyers. Source: CryptoQuant Liquidity stands with SPX bulls However, despite the bear’s dominance, CoinGlass Liquidity Heatmap showed large clusters above $1.25, suggesting plenty of resting buy orders at higher levels. This could provide the basis for long-term holders to maintain their positions and provide the required foundation…
Filed under: News - @ September 20, 2025 11:13 pm