{"id":610018,"date":"2024-12-13T11:47:45","date_gmt":"2024-12-13T11:47:45","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=610018"},"modified":"2024-12-13T11:47:45","modified_gmt":"2024-12-13T11:47:45","slug":"spx6900-price-prediction-spx-plunges-11-as-this-new-pepe-derivative-presale-charges-toward-14-million","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/spx6900-price-prediction-spx-plunges-11-as-this-new-pepe-derivative-presale-charges-toward-14-million","title":{"rendered":"SPX6900 Price Prediction: SPX Plunges 11% As This New PEPE Derivative Presale Charges Toward $14 Million"},"content":{"rendered":"

The SPX6900 price plunged over 11% in the last 24 hours to trade at $0.6522 as of 5:47 a.m. EST as investors dump their holdings in the crypto on the market.<\/span><\/p>\n

With the steep drop, the SPX price pushed its weekly performance into the red. As a result, the altcoin is down more than 3% over the last 7 days.<\/span><\/p>\n

SPX6900 Price Forms A Bearish Channel<\/span><\/h2>\n

\"SPX<\/p>\n

4-hour chart for SPX\/USD (Source: <\/span>GeckoTerminal<\/span>)<\/span><\/p>\n

The <\/span>SPX6900<\/span><\/a> price dropped<\/a> below the support level at $0.7327 and has since printed a series of lower lows and lower highs on the 4-hour chart, resulting in the formation of a negative price channel. Should this bearish trend continue, the crypto might soon lose the $0.6347 support to potentially plunge to as low as $0.5526 in the short term.<\/span><\/p>\n

On the other hand, the <\/span>SPX6900<\/span><\/a> price rising above the upper barrier of the descending price channel could invalidate the bearish thesis. In this alternative scenario, the altcoin might try to reclaim the $0.7327 support. A 4-hour candle close above this price point could give the SPX6900 price the foundation needed to rise to the subsequent barrier at $0.8361.<\/span><\/p>\n

Technicals Warn The SPX6900 Price Could Keep Falling<\/span><\/h2>\n

From a technical standpoint, indicators on SPX’s 4-hour chart warn the crypto’s price might keep dropping in the coming 24 hours. Both the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) are flashing bearish.<\/span><\/p>\n

In the last few hours, RSI readings have dropped below the neutral 50 mark, suggesting increasing bearish strength. With the negative slope of the RSI line, it seems sellers are still growing stronger. This could lead to additional bearish pressure on the SPX6900 price.<\/span><\/p>\n

Meanwhile, the MACD line crossed below the MACD Signal line in the last 24 hours. This specific technical development is often interpreted as an indication that an asset has entered a negative cycle. With the gap between the two lines growing, the crypto’s bearish momentum seems to be picking up steam.<\/span><\/p>\n

While the SPX6900 price stands the risk of dropping even more in the coming 24 hours, investors are flocking to new Pepe derivative <\/span>Wall Street Pepe (WEPE)<\/span><\/a> for 100X gains.<\/span><\/p>\n

A Meme Coin On A Mission To Challenge Crypto Whales<\/span><\/h2>\n

Up until now, the crypto trading scene has been dominated by crypto whales who keep all of their next moves a secret. Wall Street Pepe (WEPE), through its growing WEPE Army of degen traders and analysts, aims to bring an end to whales’ dominance in the market once and for all.<\/span><\/p>\n

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I didn’t choose the meme life. The meme life chooses me. 🐸 ⚔️ <\/p>\n

Join the army: https:\/\/t.co\/ZDBhKay9ss<\/a> pic.twitter.com\/tTvIF8j7gT<\/a><\/p>\n

— Wall Street Pepe (@WEPEToken) December 11, 2024<\/a><\/p><\/blockquote>\n