Big Whales Accumulating SPX690 : Is a $2.3 Rally on the Horizon ?

SPX6900’s 12% Bull Rally Reignites Hope for a Major Breakout

SPX6900 investors recently witnessed an impressive 12% surge in just 24 hours. This remarkable price movement raises questions about the role of whales in this rally and whether retail investor demand will be necessary to sustain this momentum.

In the spot market, whale-held addresses have begun accumulating more long positions at the current price level of $1.3. This sudden shift indicates that long-term holders with substantial positions are regaining confidence and identifying value at these levels.

On the futures front, consistent participation from whales confirms that SPX’s rally isn’t merely a temporary bounce, but could pave the way for a more sustainable bull cycle.

Strategic Liquidity Levels Indicate Upside Potential

Liquidation data reinforces this optimistic outlook. Liquidity clusters are observed above the current price, at $1.8 and $2. These zones could act as price magnets, attracting traders and investors seeking volume.

If momentum maintains and SPX manages to break out of this zone, it could set the stage for a deeper bullish trend. Otherwise, a new consolidation phase would be possible.

The 12H chart of SPX shows that the price must absolutely break through this median resistance Fibonacci level (in pink) at $1.48 to finally regain sustainable bullish momentum. For now, the price is consistently being rejected. However, Bitcoin breaking through $118,000 should provide the necessary bullish push to subsequently target $2.3, according to the FBB. That’s a potential increase of 65%.

Overall, the technical setup appears favorable for SPX bulls, with whale accumulation in both spot and futures markets, along with strategic liquidity levels. However, the continuation of the rally will require broader participation from retail investors.

The coming days will be crucial in determining whether SPX6900 can successfully break through the key resistance zone of $1.8 to $2. Such a breakthrough could pave the way to new heights for the altcoin. Otherwise, a temporary consolidation wouldn’t be unexpected.

Is SPX6900 an Opportunity Worth Seizing ?

Driven by massive whale accumulation and an ascending channel, SPX6900 is primed for a rally. Additionally, the support at $1.3 offers a high risk-reward ratio if BTC breaks through $118,000.

Here’s a comprehensive guide to buying SPX on Zoomex, with an optimized strategy to maximize your gains.

1. Zoomex Registration : Visit the official Zoomex website and create an account by entering an email address and a secure password. Complete KYC verification by submitting an ID (passport or card) to access all features, including withdrawals.
2. Fund Deposit : Log in, access the “Wallet” section, and deposit funds via bank card (Visa/Mastercard), SEPA transfer, or cryptocurrencies like USDT or SOL. Check the fees (typically <1%) and confirm the deposit, which is instant for crypto transfers.
3. Selecting the SPX/USDT Pair : In the trading interface, choose the Spot market, search for SPX/USDT, and consult the order book to evaluate liquidity (volumes >$50 million). This ensures fast and stable executions.
4. Placing the Buy Order : Opt for a market order to buy immediately at the current price (~$1.43) or a limit order at the $1.3 support for a better entry point. Set the quantity based on your budget, allocating 2-5% of your portfolio.
5. Purchase Confirmation : Verify the details (amount, fees ~0.1%) and confirm the order. Your SPX will appear in your Zoomex wallet after execution, visible in your transaction history.

Investment Strategy and Profit-Taking Zones Based on the ascending channel, RSI (58) and positive MACD :

• Entry Point :
  • Buy at $1.3 (Fib 0.618 support) for a safe entry point, ideal during a correction.
  • Enter after a confirmed breakout of $1.48 with high volumes (>$60 million) to ride the momentum, especially if Bitcoin exceeds $118,000.
• Profit-Taking :
  1. Short-term : $1.54 (+12%). After breaking resistance; sell 30-40%.
  2. Medium-term : $1.8 (+26%). Target liquidity cluster, potential squeeze; 30-40%.
  3. Long-term : $2.3 (+65%). Ascending channel objective; keep 20-30%.
• Stop-loss : Below $1.2 (-16%) to limit losses in case of rejection.

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