SPX6900 continues bearish trend, Key levels to watch

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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Technical analysis & market mechanics

• Price exhausted at $0.6436, failing to reach our upper sell zone between $0.82-$0.99.
• Local resistance sits at $0.52
• Local support is defined at $0.45.
• Short interest zones are at $0.65, $0.74, and $0.82 - only levels where we'd consider shorting.
• Despite that, the current move looks vulnerable and is expected to extend lower into $0.36-$0.30 over the coming days.
• RSI is in neutral territory, with room to move higher before triggering any short setups.
• Immediate direction remains down; short setup only becomes valid if price retests upper resistance zones.

• Next Support: $0.4550
• Next Resistance: $0.5200
• Direction: Bearish
• Upside Target: $0.6500
• Downside Target: $0.3000

Cryptonary's take

SPX6900 is a far-end risk curve asset - illiquid, highly volatile, and capable of explosive upside moves. But with risk appetite fading, the bias here is clear: we expect SPX6900 to trade lower into the $0.36-$0.30 region in the short term.

Only if the price bounces back into the $0.65-$0.82 region will we look to engage on the short side. Until then, this is a high-beta name that requires patience - not a market to chase early. Let the lower levels get tagged first, then we act.