SPX gatherings on the 935K whale, but is the higher market here already? star-news.press/wp

Main meals

The whales added more than 935 kilograms after the low prices, which led to a strong bounce. But applicants may be limited to profit and increasing drainage balances on the upward trend, especially since RSI approaches the peak of purchase and Netflows hints to the intention of selling.

SPX6900 (SPX) has increased by 15.64 % over the past 24 hours, with support of $ 1.65 and hitting the highest local level of $ 2.0278.

Over the same period, the market ceiling in Memecoin increased by 14.77 % to $ 1.86 billion, while trading volume jumped by 8 % to $ 108 million, reflecting the increase in capital flow.

But beyond the high price?

Dive whales again

Interestingly, when SPX6900 decreased to $ 1.6, whales rushed to the market to defend support and also purchase the decline.

Nansen data showed that the 100 best holders increased their balance by 7.17 %, raising the total property to 681.42 million SPX, equivalent to 79 % of the total offer.

Source: Nansen

On July 26, SPX whales bought 1.34 million icons while just dropping 413.7 kilos. As a result, changing the balance of the whale remained positive with the symbols of 935.5 thousand, which is a clear sign of the accumulation of the aggressive whale.

When the whales turn into accumulation, it indicates the company’s condemnation in the market because it expects more gains.

But pressure on the construction

At the same time, profits began.

Instant data from Coinalyze offers the volume of sales (SPX) exceeding the purchase volume, at the time of the press, with the sale of 890k SPX for 851K SPX, which leads to a negative delta of -38K SPX -a short -term declining sign.

Source: Coinalyze

Nansen data also confirms that this trend, as the exchange balances showed 14.56 % to 170.24 million SPX, while the exchange flows have risen – the distinctive codes are transferred for sale.

Source: Coinglass

Netflow data highlighted a series of positive flows for two days.

At the time of the press, Netflow was $ 53,000, a decrease from $ 2.2 million the day before. The reduction allows some slow momentum, but in general it still suggests pressure from the sale side.

Historically, the high exchange balances and profits profits raised a decrease in the SPX price.

Flash Flash mixed signals

According to Ambrypto analysis, SPX6900 has risen with whales rush to the market for accumulation.

For this reason, the relative strength index in Memecoin (RSI) increased from 57 to 66, at the time of the press, making a bullish intersection. Meanwhile, RSI RAM has risen from 31 to 35, and is close to making an upper intersection.

Cross will rise here to verify the strength of the upward trend and confirm its ability to continue.

Source: TradingView

These indicators show improvement – but there is hunting.

If the bullish momentum continues, SPX can restore $ 2.05 and target $ 2.10 after that. But if the sellers outweigh the buyers, the refusal may send the price to the $ 1.63 region.