🚨 SPX/USDT: Testing Critical Levels! Is a Rebound or Deeper Pullback Imminent?

Market Outlook: SPX (SPX6900), a popular meme token, has seen significant retracement since its all-time high in late July 2025. The price is currently at a critical support juncture around $1.31–$1.34. While the long-term uptrend from early 2024 remains intact, the recent bearish pressure suggests a continuation of the short-term downtrend if this support fails.

💡 Futures Trading Plan (Neutral Stance):

🟩 Long Entry Trigger: Look for a confirmed bounce from the $1.31–$1.34 support zone. A high-volume candle close ABOVE $1.39 on a higher timeframe (e.g., 4H or Daily) would confirm a potential reversal.

💰Targets: $1.45, $1.55, and potentially towards $1.70, which is the mid-channel resistance.

🛑Stop Loss: Below the low of the rejection candle or below the critical $1.30 support level.

🟥 Short Entry Trigger: Consider a short if the price breaks BELOW the $1.30 support level with a closing candle on a higher timeframe. This would signal a continuation of the short-term bearish trend.

💰Targets: $1.25, $1.19, and towards the major support at $1.15.

🛑Stop Loss: Above the high of the breakdown candle or above the $1.34 resistance level.

Your Action Plan:

01 - Wait for Confirmation: As SPX is at a crucial decision point, patience is key. Avoid entering a trade until a clear breakout or breakdown is confirmed by a candle close on your chosen timeframe.

02 - Use a Stop-Loss: Always protect your capital. A stop-loss is not optional; it is essential for managing risk, especially given the high volatility of meme coins like SPX.

03 - Manage Your Risk: Consider position sizing appropriate for your risk tolerance. Do not over-leverage, given the recent price swings and potential for sharp movements.

📢 What are your thoughts?

Vote: Do you think SPX will bounce from current support or drop further?

Bounce for a Reversal!

Deeper Correction Coming!

Comment: Share your analysis below!