Spark (SPK) has shown strong price performance recently, breaking through the key resistance level of $0.12, reaching a new high since July. The current price is about $0.091, with a 24-hour trading volume exceeding $180 million, indicating an increase in market activity.
On the technical side, SPK has broken through a long-term downward channel, forming an inverse head and shoulders pattern, and the Relative Strength Index (RSI) once approached 86, showing strong upward momentum. However, the high RSI also suggests a potential risk of a short-term correction.
From a fundamental perspective, Spark has performed outstandingly in the decentralized finance (DeFi) sector, with a total value locked (TVL) reaching $3.86 billion, attracting a significant influx of institutional capital. Additionally, SPK's circulating supply is only 14% of the maximum supply, which provides potential support for future price increases.
In summary, SPK may face a correction in the short term, but the medium to long-term trend looks bullish, and investors should pay attention to the performance of the key support level at $0.10 and the resistance level at $0.13.