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Spark Price Tests Key Support Amid Institutional Accumulation
Spark Price Tests Key Support Amid Institutional Accumulation
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BTCCSquare news:
Spark's token (SPK) faces a critical juncture as prices hover near the $0.066 Fibonacci support, down 10% weekly despite a $541M trading volume surge. Institutional players have quietly amassed positions since August, including a $79M ETH deployment into Spark's DeFi infrastructure—a vote of confidence in its $6B TVL and 12.65% USDS yield.
Tether's integration of SPK into its WDK platform further bolsters institutional adoption, countering the token's 32% monthly decline. Technical indicators hint at waning bearish momentum: the RSI rebounded from 30 to 44, while the MACD shows slowing downward pressure. A decisive close above $0.0759 could trigger a reversal toward $0.0835, though failure to hold $0.066 risks new lows.
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