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Is the SPX6900 (SPX) Rally Over or Potential Rebound Awaits?
Is the SPX6900 (SPX) Rally Over or Potential Rebound Awaits?
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BTCCSquare news:
Technical indicators suggest capital is flowing out of the SPX market, signaling potential steeper declines ahead. The token's Smart Money Index (SMI) has steadily dipped since August 10, now sitting at 2.16—a sign that institutional investors may be distributing their holdings.
The Parabolic SAR indicator further reinforces the bearish outlook, with dynamic resistance forming above SPX's current price at $1.93. When these dots appear above an asset's price, as they do now, it typically indicates downward momentum.
Smart money—comprising hedge funds, venture capitalists, and professional traders—often moves ahead of major price shifts. Their current retreat suggests retail traders could face headwinds in the coming sessions.
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