SPX Price Soars 27%, Reclaims $1B Market Cap | Airdrop Alert Pro

SPX6900 (SPX) price surged 27% in the past 24 hours, regaining the $1 billion market capitalization threshold and solidifying its position as the tenth largest meme token, ahead only of FARTCOIN.

While a rally to $1.64 is possible, key resistance and support levels will remain crucial in determining the next move. If momentum weakens, the SPX could see a sharp correction, possibly testing $0.93, $0.81, or even as low as $0.61.

SPX Ichimoku Cloud shows hybrid settings

Ichimoku Cloud Atlas SPX Showing mixed setup, the current price is trading around the green Kumo (cloud). The cloud is formed by Senkou Span A (green line) and Senkou Span B (red line) and reflects a neutral to bullish outlook as Span A is slightly higher than Span B.

This configuration suggests a potential shift in momentum, but the thin nature of the cloud suggests limited strength of support or resistance, leaving price susceptible volatility.

The blue Kijun-Sen (baseline) is currently below price, indicating improving short-term momentum, while the orange Tenkan-Sen (switch line) is also trending upward, further confirming this momentum shift.

However, the lag span (green line) still lags below the price and cloud, highlighting SPX Not yet in full bullish territory. To send a stronger bullish signal, price would need to completely break out of the red cloud, repositioning all Ichimoku lines into a more supportive configuration.

SPX BBTrend has been strongly negative for the past 2 days

The SPX’s BBTrend is currently at -32.3 and has been in negative territory since January 10, having stayed below -30 for the past two days. This long-term negative BBTrend reflects bearish momentum, even though the SPX has experienced a massive price increase of nearly 27% in the past 24 hours, making it the 10th largest index same corner.

The negative data suggests that despite the recent rebound, the overall trend remains weak, suggesting caution for traders looking for continued gains.

BBTrend or Bollinger Bands band Trend, a measure of price deviation relative to Bollinger Bands, provides insights into trend strength and direction. Negative values ​​generally indicate bearish conditions, while positive values ​​indicate a bullish trend. SPX’s BBTrend is -32.3, with current readings emphasizing that the asset remains in bearish territory.

This means that despite the recent price surge, the market lacks strong underlying momentum to confirm a lasting trend reversal, and the S&P 500 could face a potential pullback if buying pressure weakens.

SPX Price Prediction: Will SPX Drop Below $1 Soon?

If the upward trend continues, S&P X Price It could rise to $1.64, with a potential upside of 37.8%. if Narrate Resurrection of the Meme Coin restores its power. This target is consistent with the bullish momentum seen in recent price action. Sustaining this trend, however, requires stronger confirmation from key indicators.

However, both Ichimoku Cloud and BBTrend suggest that the current uptrend may not be fully sustainable, suggesting traders should be cautious in their expectations for further gains.

If the uptrend reverses, the SPX may retest support at $0.93, a key level that has held in previous sessions.

If this level fails, the price could drop further to $0.81, possibly causing SPX to lose its largest position Meme Coin arrive fart coins. A deeper correction could see the SPX drop to $0.61, a drop of 48.7% from current levels.