Do you remember when SPK surged to 1.2U half a month ago, and the community was full of cheers for 'breaking the previous high'? Now that it has pulled back to 0.7U, some are beginning to panic: 'Is there a problem with the project?' In fact, just look at the on-chain data and you'll understand: this is not a decline, but the main force washing out positions to build strength.
First, let’s look at some hard indicators:
The number of airdrop addresses is still increasing daily, with 2,300 new ones added yesterday, indicating that new users are still entering the market.
The locked position (TVL) has remained stable above 8 million U for 10 consecutive days, and the chips have not budged at all.
The selling volume on the exchange has dropped from 500,000 U daily to 200,000 U, and the sell orders are nearly exhausted.
It’s like a spring being compressed to its tightest—when it surged to 1.2U, many short-term traders took their profits and ran. Now that it has pulled back to 0.7U, it's just washing out those jittery positions. Experienced players know that before a real main upward trend, the main force always does this 'deep squat' to shake off the uncertain investors.
More importantly, the project has not stopped making moves:
The locked position mechanism is being upgraded, and next week a 'tiered staking' will be launched, where the longer you stake, the higher the interest—this move will further lock in the chips.
The official announcement just came out about a partnership with two leading wallets, and new features will be launched in September, which will likely lead to a significant increase in user numbers.
Some are worried, 'Will it drop below 0.5U?' But just look at the chip distribution: between 0.7U and 0.8U, there are over 30 million U in buy orders, which is the defensive line set by the main forces, making it not so easy to break through.
According to the current trend, entering at 0.7U could yield at least these few opportunities:
In the short term, looking at 0.35U? No, after this wave of washout ends, first look for a return to 1.5U, which is the pressure point of the previous high; breaking through this will completely open up the space.
In the medium term, with the new features launching in September, reaching above 2U is completely possible—think about it, from 0.7U to 2U, that’s nearly a 3-fold increase.
Looking long-term, if TVL can reach 20 million U, a 5-fold increase in market value is not an exaggeration.
Don’t wait until the main upward trend starts and then regret it. When SOL pulled back from 20 dollars to 12 dollars in 2021, how many people hesitated and didn’t enter the market, only to watch it soar to 260 dollars later? Last year, when ARB dropped from 1.2U to 0.8U, those who didn’t dare to buy then are now hitting their thighs in regret.
The main upward trend for SPK in September has now entered a countdown phase. At the price of 0.7U, this might be the window period of these two days. If you have spare cash, you might as well try a small position—remember, those who make big money in crypto often do so when others hesitate.
Want to know how to arrange your positions? Follow me, tomorrow I'll post SPK's position allocation suggestions, teaching you to catch this potential surge with minimal risk. Opportunities don’t wait for anyone, especially during these buying opportunities after a main force's washout.
