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The SPX6900 price plunged over 11% in the last 24 hours to trade at $0.6522 as of 5:47 a.m. EST as investors dump their holdings in the crypto on the market. With the steep drop, the SPX price pushed its weekly performance into the red. As a result, the altcoin is down more than 3% over the last 7 days. SPX6900 Price Forms A Bearish Channel 4-hour chart for SPX/USD (Source: GeckoTerminal ) The SPX6900 price dropped below the support level at $0.7327 and has since printed a series of lower lows and lower highs on the 4-hour chart, resulting in the formation of a negative price channel. Should this bearish trend continue, the crypto might soon lose the $0.6347 support to potentially plunge to as low as $0.5526 in the short term. On the other hand, the SPX6900 price rising above the upper barrier of the descending price channel could invalidate the bearish thesis. In this alternative scenario, the altcoin might try to reclaim the $0.7327 support. A 4-hour candle close above this p...

Bitcoin is currently trading at $62,255.65, up 2% in the past week. The BTC market fell prey to volatility ahead of this past weekend, but the asset has gained slightly since the start of the week. Analysts are predicting what price point could be the level that separates current prices from a boom. It’s suggested that $63,000 could be the next support level, which means higher highs incoming for the king coin. Bitcoin recently surged during the weekly open, creating two major long liquidation levels due to high leverage. These levels aligned perfectly with last week’s equilibrium (pwEQ). Bitcoin faced resistance as the bid-ask ratio tilted heavily toward the ask side. This led to a retracement, bringing BTC back to critical levels. However, this made the liquidation points and pwEQ key areas for potential price bounces. The bid-ask ratio is now showing a shift toward demand, with more bids appearing within 2% of the current price. This data reveals that entry levels around $62K ...