๐ SPK/USDT Technical Breakdown โ 4H Chart Analysis
๐จ Signal: SHORT / BEARISH CONTINUATION
๐๏ธ 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.
๐ Key Indicators:
โข ๐ Price is trending below MA(7), showing sustained selling pressure.
โข ๐ RSI(6) = 13.7 and RSI(12) = 17.5 โ extremely oversold, but no bounce signs yet.
โข ๐ป MACD momentum is weak and declining.
โข ๐ Volume is drying up post-pump, showing buyer exhaustion.
๐ Conclusion:
This is a textbook โpump-and-dumpโ 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.
๐ฏ Strategy:
โข Entry: 0.045โ0.046
โข Target: 0.038 / 0.032
โข SL: 0.048
