$SPELL

SPELL/USDT

Price: ~$0.00056 (+21–23%)

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News & Fundamentals

SPELL is the governance token of Abracadabra.money, used for staking, governance, and fee-sharing as part of a DeFi lending protocol spanning multiple chains including Ethereum, Avalanche, and Fantom. Recent volume surged to ~$140M, indicating renewed interest. Note: Half of its initial 420B supply was burned at launch, with additional burns later, but no burn mechanism remains active, raising questions about future deflation dynamics.

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Technicals (M15, H1, H4)

Intraday (M15/H1/H4): Technical indicators show Neutral, with no clear directional bias.

Chart Pattern: A bullish falling wedge is developing, suggesting a potential breakout if confirmed.

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Smart Money / Whale Activity – Manipulation Check

There is no strong evidence of whale accumulation or concentration from reliable on-chain sources. Without clear insights into holder distribution or team-controlled wallets, manipulation risk remains unknown but not overtly indicated.

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Sentiment

Neutral–Cautiously Bullish — Pattern indicates upside potential, but mixed technical signals and lack of active supply-burning mechanisms warrant caution.

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Trade Ideas

• Long bias

  Entry: $0.00055–$0.00056

  SL: $0.00053

  TP1: $0.00060

  TP2: $0.00064

• Momentum long (on wedge breakout > $0.00060)

  Entry: > $0.00060

  SL: $0.00058

  TP: $0.00064–$0.00068

• Short bias (if rejection at $0.00060–$0.00061)

  Entry: $0.00060

  SL: $0.00062

  TP: $0.00056

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#SPELL_USDT #DeFi #TechnicalSetup