Is SPX6900 poised for a breakout and a 92% surge?

Is SPX6900 ready to explode after its correction?

The memecoins market is heating up once again, and SPX6900 is leading the pack. Currently trading around $0.377, the token has erased over 90% of its recent correction. This bullish momentum was validated by a massive bounce off the daily POC zone at $0.30, marking the end of a brief bearish spell.

From a technical standpoint, the asset has broken through the neckline of an inverse head and shoulders pattern at $0.34, confirming a strong comeback from buyers. Furthermore, interest in the token is skyrocketing, with trading volume surging by 86% to reach $11.34 million. Leveraged long positions are also piling up, peaking at $2.70 million.

A whale even accumulated 1.5 million SPX tokens, worth roughly $500,000, before declaring that the bottom is now officially in for SPX.

Technical indicators fully support this dynamic. The On-Balance Volume (OBV) is spiking to 371 million, proving sustained buying pressure over the past two days. Meanwhile, the MACD indicator is printing growing green histograms following a bullish crossover of its signal lines, strengthening the case for a short term bull run.

$0.40 in sight: How high can the price go?

Despite this impressive rally, SPX is still trading within a wide lateral channel. The real test lies at the $0.3765 resistance level. If buyers manage to keep up the pressure, a clean breakout above $0.40 would invalidate any retracement scenario and pave the way toward a massive target set at $0.76, which corresponds to the daily order block that preceded the crash.

SPX could also face the trendline resistance at $0.54, a crucial level to watch closely.

However, the crypto market remains unforgiving. Failing to break through this $0.38 glass ceiling could trigger a violent rejection. Under this scenario, sellers would regain control, risking a price drop down to its next major support zone around $0.26.

Extreme volatility is expected in the coming hours for this highly popular memecoin. As liquidity flows back into the Ethereum network, does SPX6900 have the momentum needed to smash through its resistances and trigger a massive new wave of buying?

Should you buy SPX right now?

From a structural perspective, the setup is quite clear. A weekly close above $0.38 gives SPX a solid chance of reaching $0.76 in the coming months.

Additionally, a community organized event is taking place in Amsterdam this May. This could fuel the euphoria and push the price toward new highs. The community is well known for its DCA philosophy, driven by the motto “stop trading and believe in something”.

Obviously, SPX remains a memecoin and is even more prone to volatility than most top 100 altcoins. However, SPX was the only altcoin to outperform Bitcoin in 2024 and 2025. So, can it repeat this feat in 2026?

The road to a new ATH is still long, but SPX is flashing all the signs of a bottom. Investors should either take a long term approach or wait for the monthly close confirmation to be absolutely certain about the direction SPX is heading.

According to Murad, SPX will hit $100 during the next bull run. Ultimately, it all comes down to risk management. Never invest more than you can afford to lose. But if you like SPX and its philosophy, then this is one of the best times to keep a close eye on its ascent.

Sources:

• AMBCrypto
• TradingView
• Murad

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