$SPK

Analysis of the Current Downward Channel – SPK/USDT

🕓 Time Frame:

4 Hours (H4) + Support from the Hourly Frame (H1)

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🔻 Features of the Downward Channel:

Element Approximate Level

Upper Limit (Resistance) From ~0.135 $ to ~0.11 $

Lower Limit (Support) From ~0.09 $ to ~0.078 $

Trend Angle Sharply Downward Since July 23

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🔁 Movements Within the Channel:

The price has bounced several times from the upper limit and has not been able to break through.

The lower limit acts as support, bouncing from 0.087 $ today.

Every rise currently is met with quick profit-taking, confirming the continuation of the downward path unless the upper limit is broken.

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📌 When do we exit the channel?

Breaking the upper limit at ~0.11 $ to 0.115 $ with a strong 4-hour candle and high trading volume = Signal for a potential trend change.

Breaking the lower limit below ~0.078 $ = Acceleration downwards towards 0.065 $ then 0.039 $.

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📊 Supporting Technical Indicators:

RSI: Currently in the range of 40–50, neutral leaning downwards.

MACD: Slightly negative, the last crossover is weak.

Volatility Bands: Narrow, indicating a strong movement is near (upwards or downwards).

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🧭 Summary:

✅ The currency has been moving in a clear downward channel since mid-July.

❌ It has not broken the upper limit yet, so there is no confirmation of an upward reversal.

📌 The 0.11 $ area is key currently: either the beginning of a breakout or a continuation in the downward trend.