- SPX6900 rose by 19.6% to $ 0.89, which marked a 104% rally in the last 30 days.
- RSI and Stoch RSI both made bullish crossovers, to support a continuation to $ 1, unless taking profits starts.
SPX6900 [SPX] extended his bullish run, jumped in 24 hours with 19.6% and traded at $ 0.89 on the press.
This movement builds on its increase of 104% in the last thirty days and reaches $ 0.90573 – the highest level since February.
As prices rose the last day, the Memecoin Bullish Momentum saw reinforcing among all market participants, especially in the derivatives market.
The open interest of SPX6900 rose by 22.1%and reached $ 40 million, while the total volume rose 108.24%and reached $ 107.49 million.
This combination means that traders hurry to enter the market and take strategic positions. In the midst of this haste they buy the Memecoin.
Longs are in the lead
Source: Coinalyze
In addition, the long/short ratio confirms This bias.
As such, the ratio was on the daily period above 1, where traders on Binance and OKX all showed a long bias.
In simpler terms, more than 55% of futures contracts prefer lungs. Such a conviction shows that traders have a brace for more top.
Source: Coinglass
This bullishness is further validated by the fact that the spot Netflow of SPX6900 has plummeted to a highest point in five months.
Currently it is in a negative area and it reaches a low of $ 1.25 million. Such levels were last observed in the market at the beginning of January 2025.
A higher negative Netflow reflects strong accumulation, where exchanges register more recordings than inflow.
RSI says: ‘buyers rule’ – is there fuel for more?
According to the analysis of Ambcrypto, it is currently experiencing a strong upward momentum while Bulls take over the market.
We can see the dominance of the bull because the RSI of SPX6900 has made a bullish crossover the last day. A bullish crossover here suggests that buyers have displaced sellers and marked markets a higher purchasing pressure.
Source: TradingView
Stoch RSI reflected this setup, which suggests reinforced up momentum. Together they point to persistent bullish pressure in the short term.
Simply put, the prevailing circumstances are favorable for the continuation of the upward trend. If SPX6900 bulls can maintain, we can see SPX to try a step to $ 1 for the first time since January.
However, investors can take the recent increase in profit Realization. So if it happens, the momentum stagnates while we are stagnating, and we will see SPX6900 -Terbreak to $ 0.755.