Smart Trader Makes 6x Return, Profits $1.48 Million from SPX Trade
One savvy trader made a killing recently, selling 1.45 million SPX tokens for $835,000 after the price dropped nearly 29%. The move is part of a smart strategy that has paid off hugely, with traders still holding significant positions in the SPX token.
Traders buy early and get 6x returns
According to leading market intelligence platform SpotOnChain, the savvy trader made the bold move back on September 15 and October 6, trading at just $242,000 when the price was trading between $0.18 and $0.31 3.068 million SPX tokens were purchased at a price of .
These purchases were made before the SPX price soared, setting the stage for huge returns on investment. As SPX increased in value, traders saw huge returns, increasing their initial investment 6x.
Perfect sell-out brings $1.48 million profit
After the SPX price fell by approximately 29%, the trader decided to sell 1.45 million tokens, earning approximately $835,000 from the sale. Despite the sale, the trader still holds 1.618 million SPX tokens and expects a total profit of $1.48 million.
Meanwhile, at its peak, total profits were even higher, around $2.77 million. SPX token price skyrocketed to $1.2.
SPX Price Analysis
The SPX recently hit an all-time high of $1.20, showing impressive growth. But since then, the token’s value has plummeted, losing nearly 50%. While the decline may seem alarming, Technical indicator display The market may be consolidating rather than selling off across the board.
The Relative Strength Index (RSI) has fallen to 54, indicating a more neutral momentum, while the MACD is trending slightly downward, indicating a cautious outlook for now.
On the positive side, the SPX found solid support near $0.51 and is expected to rebound to $0.65 or even $0.75. However, if the decline continues, the next support level to watch is $0.344.
As of now, SPX Trading price is around $0.522fell 10% in a single day, with a market value of US$484.9 million. Whether this is a pre-recovery pause or a deeper correction remains to be seen.
