$SPELL Overview – Pump or Pre-Breakout?

Current Price: $0.0005650

24H Change: +3.78% 📈

24H Range: $0.0004934 – $0.0005942

🧩 Market Behavior:

Strong bounce from the 24H low of $0.0004934, touching as high as $0.0005942.

Trading just below intraday resistance now.

Candle pattern suggests buying pressure, but with some upper wick rejections — hinting at hesitation.

📉 Longer-Term Trend:

Despite today’s bounce:

7D: -9.40%

30D: -4.48%

90D: -23.60%

180D: -42.62%

1Y: -41.33%

This indicates macro downtrend, and today’s move could be a relief rally unless further confirmation arrives.

📈 Technical Snapshot:

Order Book Sentiment: 33.59% Buy vs 66.41% Sell — sellers remain dominant.

Strong volume surge ($SPELL : 18.15B, USDT: 10.07M), showing interest at these levels.

Support Zones: $0.0005521 and $0.0005300

Resistance Zones: $0.0005942 (short-term), then $0.00060+

⚠️ Possible Scenarios:

Bullish Case: Break and hold above $0.0005942 → targets $0.00062–$0.00065.

Bearish Case: Rejection and drop below $0.000552 → back to $0.00052–$0.00050 range.

🧠 Summary:

$SPELL is seeing short-term bullish momentum, but it's still fighting against a heavy long-term downtrend. Momentum traders might find an entry above resistance, but caution is advised unless confirmed.

🚨 Tight stop losses recommended in case of fakeouts.

Not financial advice — always DYOR.

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