SPX price rose to $1.28 with a 0.9% 24-hour gain and strong support at $1.25.
The daily high reached $1.2490, while RSI values confirmed upward momentum.
Resistance is established at $1.38 as trading volume hits 14.38 million in 24 hours.
SPX/USDT posted a significant upside move recently, with prices now reaching as high as $1.28. After trading through a period of sideways consolidation, the asset maintained upward strength and advanced with increased daily volume. Notably, the market showed strong resilience during recent choppy sessions, holding above earlier support levels.
This trend persisted into the current week, helping SPX gain over 23% on the day. The current support remains at $1.25, while the nearest resistance sits at $1.38. The 24-hour trading range placed the asset between $0.91 and $1.24, with momentum continuing to favor upward movement.
SPX Holds Gains After Breakout as RSI Signals Strong Buying Activity
Since the start of January, SPX has held its position in the green zone despite volatile sessions. On the daily chart, the asset opened at lower levels but quickly reclaimed gains, pushing past earlier highs. The chart displays a sharp breakout that reached $1.2490 before a slight pullback. SPX now trades around $1.1677 and shows a 24-hour gain of 0.9%.
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While price movement remained unstable in previous weeks, strong support near $1.25 contributed to market confidence. The RSI indicators also reflect buying strength, with RSI6 showing a value above 80. This data suggests active price engagement around the current levels.
Volume and Technical Indicators Remain Active
The 24-hour trading turnover for SPX reached 61.32 million, with strong activity driving the recent breakout. Notably, technical indicators show momentum remains elevated. The RSI14 and RSI24 stand at 72.45 and 66.22 respectively, confirming pressure on the upside. MACD and moving averages also suggest continued momentum across short-term timeframes.
As trading volume sustains, support at $1.25 will be a key level to monitor closely. If the price tests this level, volume response could dictate direction. For now, strength appears to remain as price stabilizes above recent lows.
Resistance Builds Near $1.38 as Bulls Test Upper Levels
SPX currently trades at $1.28, close to its 24-hour high of $1.2490. Resistance is now identified near $1.38, presenting the next technical ceiling. The 24-hour gain of 0.9% confirms that SPX maintains upward traction, supported by moderate strength across key indicators.
Source; TradingView
The asset has also gained against BTC and ETH, with slight increases of 0.4% and 0.9% respectively. With the chart showing a breakout followed by minor retracement, the $1.38 resistance level will be critical for the next trading sessions.
