$SPK AT Critical Zone – Will the bulls regain control or will the bears drag it down?
SPK is trading at $0.04185, struggling to stay above the short-term support level after facing clear rejection from local resistance. Momentum appears cautious, and the next few candles may determine the direction for the next phase.
Key price levels:
• Resistance: $0.04250 – A breakout here opens the way to test $0.04300 and possibly $0.04350.
• Support: $0.04150 – Losing this area may lead to a decline towards $0.04100 or even $0.04050.
Trade setup:
Bullish:
If SPK recovers $0.04250 with strong trading volume:
• TP1: $0.04300
• TP2: $0.04350
Bearish:
A breakout below $0.04150 may accelerate the bearish trend:
• TP1: $0.04100
• TP2: $0.04050
• Stop Loss: Use a tight stop loss below $0.04140 (for long positions) or above $0.04260 (for short positions) depending on your entry direction.
Volume is decreasing and the price is sitting in a pressure zone - expect sharp movement soon. Watch closely and respond to the breakout direction.
