- SPX has held its bullish trendline, showing no signs of breakdown.
- RSI has reset to 57, cooling off from previous highs and entering a healthy range for continuation.
- Price action remains clean — buyers continue to step in on dips.
- Market sentiment around SPX is fuelled by meme-driven animal spirits, keeping volatility high but structurally bullish.
- Next resistance sits at $1.50, with price threatening to break into discovery mode.
- Support at $1.31 remains solid, with any retest likely to be defended aggressively.
Thesis
SPX is maintaining bullish momentum, with both structure and sentiment pointing toward further upside. The asset has benefited from strong meme coin interest, and with RSI resetting to 57, conditions are ideal for another push higher. While downside risk remains toward $1.00 if the trendline breaks, as long as price holds above $1.31 and respects trendline support, we anticipate a continuation toward $2.00 — especially if animal spirits persist and the meme cycle remains strong.
Cryptonary’s Take
SPX remains one of the strongest trending meme assets. With structure intact and RSI resetting, the path of least resistance remains up. As long as trendline support holds, we expect price discovery and continuation toward $2.00. We remain bullish and continue to favor upside plays on SPX.
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