Join Our Telegram channel to stay up to date on breaking news coverage
The SPX6900 price surged 23% in the past 24 hours to trade at $0.7155 as of 02:17 a.m. EST on trading volume that skyrocketed 143% to $97.4 million.
SPX6900 Price Gearing Up For A Bullish Continuation Trend
The SPX price chart reveals a strong uptrend over recent months. After a parabolic rally earlier in the year, the price consolidated and formed a well-defined upward channel, indicating consistent higher highs and higher lows.
The price has now broken out of this channel with a significant bullish candle, signaling a potential continuation of the rally. This breakout is accompanied by increased trading volume, suggesting strong buyer interest.
Currently, the price of SPX6900 is trading at $1.1892, slightly below its intraday high of $1.2397, after a rally of over 50% in just a few weeks.
The sustained upward trajectory is supported by its price staying well above both the 50-day Simple Moving Average (SMA) at $0.7067 and the 200-day SMA at $0.3405. This alignment of SMAs underscores the bullish market structure, according to data from GeckoTerminal.
The Relative Strength Index (RSI) is currently at 71.60, indicating that the asset is in the overbought territory. While this suggests potential for a short-term pullback or consolidation, it also reflects the strength of the bullish momentum.
Moreover, the blue Moving Average Convergence Divergence (MACD) line is above the orange signal line, and both are trending upward in positive territory. This crossover confirms strong bullish momentum.
The growing histogram bars indicate increasing strength in the current uptrend.
SPX Price Prediction
Based on the technical indicators and recent price action, the SPX6900 price is in a strong bullish trend. The breakout above the ascending channel suggests potential for further gains in the near term.
Given the bullish momentum, the price could target $1.40 to $1.50 in the short to medium term, especially if the broader market sentiment remains positive.
However, with the RSI in overbought territory, a short-term pullback or consolidation around $1.10–$1.20 is possible before the next leg upward.
Meanwhile, investors are also buying a new Solana meme coin called Solaxy (SOLX). According to 99Bitcoins, a popular crypto YouTube channel with over 719K subscribers, SOLX has the potential to soar 100X post-launch.
Solaxy Presale Smashes Past $8 Million In Less Than A Month—Next Crypto To Explode?
Solana has marketed itself as a fast, reliable, and affordable blockchain, especially compared to Ethereum’s slower and more expensive system.
However, recent events show Solana has not lived up to these promises, particularly during times of high traffic.
Solaxy solves this by handling transactions on a second layer, easing the load on the Solana mainnet.
Solaxy’s solution relies on three key features: off-chain processing to handle the heavy work, transaction bundling to cut costs, and secure settlement back on the main Solana chain.
🚨 Solaxy is now live in Upcoming Tokens! 🚨@SOLAXYTOKEN gives holders an opportunity to join the first-ever Solana Layer 2 blockchain.
Solaxy is set to enhance blockchain innovation through limiting congestion, reducing failed transactions, and improving scalability on SOL.… pic.twitter.com/satNF6zFNF
— Best Wallet (@BestWalletHQ) December 17, 2024
Solaxy also offers holders who stake their SOLX tokens a huge annual yield of 449%. Over 2.5 billion SOLX have been staked so far.
Investors interested in participating in the presale can visit the official Solaxy website to buy SOLX tokens for $0.001588 each using BNB, ETH, USDT, or a bank card.
Buy before a price hike in less than 3 hours to secure the best deal.
Related News
- Pepe Price Jumps 2%, This Rival’s ICO Charges Towards $40 Million – Next PEPU?
- Fartcoin Price Surges 18% And This Might Be The Next Crypto To Explode
- SOL Soars 9% In A Week As This New Layer-2 Crypto ICO Closes On $8 Million
Newest Meme Coin ICO - Wall Street Pepe
- Audited By Coinsult
- Early Access Presale Round
- Private Trading Alpha For $WEPE Army
- Staking Pool - High Dynamic APY
Join Our Telegram channel to stay up to date on breaking news coverage
