SPK Network: Bearish setup = opportunity for short trade đ
$SPK brings an interesting vision of a decentralized social layer, but the market momentum is currently not supporting the growth of the value. The price is holding below the key resistance around $0.09 and technical signals so far confirm the continued decline.
Current price: ~$0.08768 (â6.95% in 24h)
Analysis shows weak technical support and increasing selling pressure
Swing short proposal: entry $0.0885â0.0890; TP1 $0.0850; TP2 $0.0830â0.0825; SL above $0.0915
This does not mean that the long-term project is losing value â SPK still has strong fundamentals such as on-chain capital allocator and governance token SparkFi. But the market is now deciding differently than the roadmap.
đŹ What do you think? Is it time to go short or are you investing in a long-term fundamental?