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The SPX6900 price pumped 5% in the last 24 hours to trade at $1.61 as of 10:20 p.m. EST as traders go long on the crypto.
The SPX price has been in a strong positive trend over the past 30 days. In just the last week, the altcoin has gained over 40%. Zooming out to the longer-term monthly time frame shows the crypto is up over 121%.
SPX6900 Price Nears Resistance, Will It Overcome The Technical Barrier?
Daily chart for SPX/USD (Source: GeckoTerminal)
The SPX6900 price is nearing a resistance level at $1.7506, data from GeckoTerminal shows. Should the altcoin break above this barrier, it could clear the room needed to extend its rally and rise to as high as $1.1926 in the short term if the bullish pressure persists.
Bears defending the $1.7506 resistance, however, could lead to a pullback in the SPX6900 price. In this alternative scenario, SPX might end up falling down to the nearest support level at $1.3507. Thereafter, continued sell pressure from bears could result in a plunge to the subsequent support level at $1.1298.
Technicals Warn The SPX6900 Price Could Undergo A Correction Soon
From a technical point of view, indicators on the daily chart such as the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) warn SPX’s bullish momentum might have stalled.
That’s as the MACD line starts to level off above the MACD Signal line. Traders might see this as an indication of an upcoming bearish trend reversal.
Adding to the idea that SPX’s trend might change soon is the RSI, which has also leveled off in the low 80s. Usually, an RSI value above 70 signals that a crypto is overbought. As such, high RSI readings warn a crypto’s downside potential is greater than its upside potential, and are subsequently seen as a sell signal.
The levelled off RSI line above 80 might be an early indication that some traders are already anticipating some downside movement for the SPX6900 price, and are switching their buy positions to sell positions. If more traders start to do the same, the RSI could begin to drop, signaling a potential shift in power from bulls to bears.
As the SPX6900 price looks to keep rallying, investors are also buying into the presale for Snorter Token (SNORT). According to 99Bitcoins, a popular YouTube channel with over 723K subscribers, SNORT could soar 10X on launch.
Snorter Token Turns Telegram Into A Personal Trading Dashboard
Snorter Token introduces the most efficient and cost-effective Solana meme coin trading bot in the market.
Unlike its competitors that need to be accessed through browser-based extensions or dedicated apps and websites, the Snorter bot operates within Telegram. This means that the project enables users to snipe new tokens, perform sub-second swaps, copy other traders, and monitor their portfolios in real-time, all from within the widely-used messaging app.
The Snorter bot also beats all of its competitors in terms of trading fees, with SNORT token holders only charged 0.85%. As such, traders can take on more trade opportunities without having to worry about fees eating away at their portfolios too much.
In addition to the ease of use and low fees, the Snorter bot even comes with MEV protection and honeypot scam detection. This protects users from being front-run by MEV bots, while also safeguarding them from potential scam tokens.
High Presale Staking Rewards Pull Investors In
Snorter Token’s presale has already raised more than $698K in a short period of time, signaling strong investor confidence in the project’s future. If this momentum continues, which it likely will, the ICO could soon cross the $1 million mark.
Interested investors can participate in the presale and acquire SNORT through the simple buy widget embedded on the project’s website. Selling for $0.0949, SNORT can be bought with either crypto or bank card.
Investors won’t have to wait until after the project’s launch to start earning, as the SNORT presale comes with a 463% staking APY. To unlock the APY, investors simply need to navigate to the staking page on the website after buying some SNORT and lock up their tokens to start earning.
Anyone looking to secure the best presale deal will want to hurry, however, because SNORT’s price will undergo a series of staged increases as the ICO progresses. The next price hike is scheduled for around 31 hours.
Check out SNORT on its official website.
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