SPX faces resistance at $0.75

Disclaimer: This is not financial or investment advice. You are responsible for any capital-related decisions you make, and only you are accountable for the results.

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• SPX has broken below its main uptrend line and back beneath the $0.75 horizontal support.
• However, price is now attempting to bounce from the $0.65 area, although it may find that $0.75 horizontal level and the underside of the main uptrend line, may act as new resistance.
• Beneath current price, the support is at $0.65 and then $0.55. If $0.65 is broken, it's possible we see a revisit to the $0.50 to $0.55 area.
• Volume did pick up over the last 48 hours. However, it was selling rather than buying volume.

• Next Support: $0.65
• Next Resistance: $0.75
• Direction: Neutral
• Upside Target: $0.75
• Downside Target: $0.55

Cryptonary's take

SPX is still at a relatively high level, and it has now had a number of pullbacks where it's able to find support. Unfortunately, SPX is beneath its horizontal level of $0.75 (likely now new resistance), and it's also out of its main uptrend.

If SPX can reclaim both, then expect a swift revisit back to the highs of $0.94. However, this may be tricky as there are a number of resistance overheads.