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SPX6900 Memecoin Plunges 10% Amid Technical and On-Chain Bearish Signals
SPX6900 Memecoin Plunges 10% Amid Technical and On-Chain Bearish Signals
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BTCCSquare news:
SPX6900, a memecoin tracked by CoinMarketCap, tumbled 10% in the past 24 hours after failing to breach the $1.47 resistance level. The rejection triggered selling pressure, leaving traders monitoring for potential deeper corrections.
Technical indicators suggest further downside risk. The Stochastic RSI remains above oversold territory, while the price eyes a critical support zone between $1.18 and $1.20. A hold above this level could preserve the broader bullish structure.
On-chain metrics reinforce the bearish outlook. CryptoQuant data shows sustained seller dominance in derivatives markets via Futures Taker CVD, with liquidity clusters NEAR $1.25 representing potential rebound catalysts if current supports hold.
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