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The SPX6900 price soared 28% in the last week, despite dropping 7% in the past 24 hours, to trade at $1.10 as of 5:00 a.m. EST on trading volume that rose 3% to $81.3 million.
The drop in the SPX price comes after a federal appeals court temporarily paused a lower court ruling that struck down most of President Trump’s tariffs, which allows them to remain in effect for now.
Earlier on, the lower court had ruled the tariffs unlawful, stating that Trump misused emergency powers for a trade issue that Congress should handle.
SPX Price Still Bullish Despite 7% Drop
The SPX price on the daily timeframe is exhibiting a strong bullish trend following a significant breakout from a rising channel. This rising channel had been forming since late April, characterized by higher highs and higher lows.
Meanwhile, the SPX6900 price has recently broken above the 0.382 Fibonacci retracement level at approximately $1.1186, which has now turned into a near-term resistance level after a brief push above it, according to GeckoTerminal data.
The recent bullish impulse has moved the price of SPX significantly above the 50-day Simple Moving Average (SMA), currently positioned around $0.6547. This breakout suggests a strong shift in momentum, driven by increasing buyer interest.
Moreover, the Relative Strength Index (RSI) is currently positioned at around 74.01, which places the price of SPX6900 in overbought territory. This warns the asset may be due for a pullback.
The Moving Average Convergence Divergence (MACD) line (blue) is well above the signal line (orange), and both are positioned above the zero line. This configuration confirms strong bullish momentum.
SPX Price Prediction
The SPX price is currently in a strong uptrend, with the potential to challenge the next major resistance near the 0.236 Fibonacci level around $1.3758.
Conversely, a failure to hold above $1.00 could open the door for a retest of the $0.91 mark (0.5 Fibonacci level) or even the $0.70 point (0.618 Fibonacci level), which could serve as stronger supports for the SPX6900 price.
Meanwhile, opportunistic investors are redirecting their funds to a new ICO called Snorter Token (SNORT).
According to 99Bitcoins, a popular YouTube channel with over 723K subscribers, SNORT could soar 10X on launch.
Snorter Token Presale Racing Towards The $300K Milestone – Buy And Stake For 1,213% APY
The Snorter Token presale continues to garner traction in the meme coin space, having raised over $247k in the first 2 days of its launch.
This Solana-native Telegram trading bot aims to enhance meme coin trading by providing speed and efficiency.
Snorter is the quickest and cheapest bot on Solana, turning your Telegram feed into a weaponized trading terminal.
It has the fastest execution and lowest fees of any bot on Solana, and makes sniping a cinch. It also comes with cutting-edge MEV protection, which gives it a competitive advantage when compared to other solutions like Trojan and BonkBot.
🚨 Snorter Bot is now live in Best Wallet! 🚨@SnorterToken is building a powerful multi-chain Telegram trading bot designed for speed, transparency, and automation.
Snorter Bot will give users the ability to access lightning-fast trades and real-time execution directly from… pic.twitter.com/EqkWxGMcQy
— Best Wallet (@BestWalletHQ) May 28, 2025
Snorter Bot beats all the competition in terms of fees as well. By simply holding the SNORT token, traders reduce their execution fees from 1.5% to 0.85%, undercutting other Telegram bots.
In addition to its trading features, staking rewards currently sit at 1,213%, which decreases as more investors join the ICO.
The presale is now live, and the token is selling at $0.0935. Tokens can be bought with SOL, ETH, BNB, or bank card, and staked directly on the official site. Interested investors will want to buy before the next presale price hike in less than 1 hour.
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