SPX6900 Records 16% Drop Amid Market Volatility, Potential Rally Ahead

SPX6900 has plummeted 16% in the last 24 hours, marking a significant market correction. Despite the sharp decline, the memecoin remains up 106% over the past month, suggesting this may be a temporary pullback rather than a sustained downturn.

Technical analysis reveals SPX is testing a critical ascending support line that has historically triggered rallies. Three previous touches of this level were followed by substantial price surges. The current retest could either spark another rebound or lead to further downside if support fails.

Key levels to watch include $1.30, $1.22, and $0.91—each representing potential reversal zones. Market indicators like Bollinger Bands suggest growing downside risk, though the asset''s volatility leaves room for rapid recovery.