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SPX6900 Faces Critical Resistance at $1.42 Amid Bearish Shift
SPX6900 Faces Critical Resistance at $1.42 Amid Bearish Shift
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BTCCSquare news:
SPX6900's aggressive rebound from support faces a decisive test at the $1.42 resistance level, a confluence of technical barriers including the 0.618 Fibonacci retracement and high time-frame resistance. Failure to reclaim this level could confirm a structural bearish shift, potentially triggering deeper downside toward the value area low.
The token's breakdown below prior higher lows has invalidated its previous bullish market structure, marking a significant technical reversal. Market participants now watch whether this bounce represents a bearish retest or a genuine reversal attempt, with the $1.42 level serving as the litmus test for trend direction.
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