The Spark price (SPK) just torn off more than 90% in one day and printed a new summit entirely at $ 0.121 on July 23. The Buzz Ardrop Buzz of ignition always raises the feeling, but the graphics in the short term require a cleaner push before the price can extend.
The emphasis is now put on the question of whether the supply goes to the exchanges, if Momentum can really beat its last peak and where the next support will be. This counts for anyone who followed the action of Spark prices or the broader story of Spark tokens.
Exchange entries say that the risk to profit is real
When a token doubles almost in 24 hours, the first question is: do holders start to send parts to the exchanges to sell? This is why Netflow’s time graph is important here.
SPK Netflows remained positive during the race, which means that the deposits still exceed withdrawals while the price is high.
Prices have already slipped a little, so if the entries continue to build, these additional documents on exchanges can become sales orders quickly.
Netflow simply follows the tokens that penetrate or come out; Persistent entries while the price stands generally suggest that a withdrawal is on deck, even in a bullish trend.
RSI must lead for escape to stay
We analyze the relative one hour (RSI) index because this decision is quickly directed by news and the momentum moves quickly on this scale. In addition, time view can help plan any trend before going on a daily basis or even 4 -hour chronology.
The last time, between July 21 and 22, RSI made a higher right when the price was rushed, and this alignment launched the greatest gathering.
Currently, Spark Price kisses the top of an ascending corner, but RSI is stuck around 80 without removing its last peak. The price area is the same, but the momentum is lower.
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If RSI cannot print a higher high with a price, a drop is more likely to occur.
RSI (relative force index) scores the strength of recent movements from 0 to 100; When the price is stable or increasing but RSI fades, the momentum does not support the push.
SPK price action: $ 0.124 is the trigger
The upper edge of this corner is almost perfectly written with the 0.618 brand of an extension of fibonacci with a tendency close to $ 0.124, giving a clean validation level for merchants of Spark tokens.
SPK failed twice. It has already gone from $ 0.117 to around $ 0.111, so $ 0.110 is the first level that bulls must defend.
Lose it and the price can gravitate $ 0.101, the previous upper swing used to anchor the FIB.
Below, this is $ 0.087 (the FIB 0 line). The wider bullish structure survives above this area, but if SPK breaks, $ 0.070 comes into play and the upward trend is weakening.
Flip Side: a clean hourly fence above $ 0.124, with RSI breaking the cooling of the entries and schedules, would erase the path for continuation and another level entirely high in SPK price.
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