📉 SPK/USDT Technical Breakdown – 4H Chart Analysis
🚨 Signal: SHORT / BEARISH CONTINUATION
🗓️ 17 June 2025 | Binance Write & Earn
SPK made a wild move earlier, spiking from 0.01 to 0.069 USDT, but the pump quickly faded. Now trading at 0.043, it has formed a bearish flag pattern.
🔍 Key Indicators:
• 📉 Price is trending below MA(7), showing sustained selling pressure.
• 📊 RSI(6) = 13.7 and RSI(12) = 17.5 — extremely oversold, but no bounce signs yet.
• 🔻 MACD momentum is weak and declining.
• 📉 Volume is drying up post-pump, showing buyer exhaustion.
📌 Conclusion:
This is a textbook “pump-and-dump” setup. With no support rebound yet and extreme RSI, a short position remains valid, but tight SL is recommended due to volatility. Watch for reversal if volume spikes again.
🎯 Strategy:
• Entry: 0.045–0.046
• Target: 0.038 / 0.032
• SL: 0.048
#CryptoSwingX #SPKUSDT