$SPK BEARISH ALERT 🔴📉
We’ve just seen a classic M-top / Double Top formation — a strong bearish reversal pattern that often signals exhaustion in buying momentum. The price tested the 0.1200 zone twice and failed both times, confirming strong resistance overhead.
After rejecting from this level, we saw a sharp 4.35% drop, breaking short-term support and now hovering just above the major 0.1147–0.1151 support zone.
📌 What’s next?
A potential retest toward 0.1170 is possible before sellers take control again. If the retest fails, a break below 0.1147 could accelerate the sell-off toward the 0.1100 key demand level.
The structure is clear:
Pattern: Double Top (Bearish Reversal)
Bias: Short-term pullback before continuation down
Critical Support: 0.1147
Major Bear Target: 0.1100
Stay cautious — if bulls fail to reclaim 0.1170, we could see the next leg down unfold quickly.