💥$SPK Sharp Rejection & Range Breakdown | Bearish-to-Range Setup
SPK is trading near $0.0218, showing strong volatility after rejection from highs, with price now slipping back into a range zone.
🔹 Market Structure
Clear lower high formation after rejection at $0.0247.
Price dipped to $0.0172 and bounced, but failed to sustain bullish momentum.
Current structure: Sideways consolidation with bearish pressure.
🔹 Key Levels
Support Zones:
$0.0210 – $0.0205 (intraday base)
$0.0185 – $0.0172 (major demand zone)
Resistance Zones:
$0.0232 – $0.0247 (strong supply zone)
$0.0250 (major breakout level)
🔹 Volume Analysis
Selling volume spiked during breakdown, showing distribution near highs.
Recent volume is cooling, signaling possible consolidation before next move.
🔹 Technical Outlook
EMAs stacked bearishly → trend still weak
RSI bounce → short-term relief possible
Above $0.0233 → bullish reversal zone
Below $0.0205 → risk of deeper drop
📌 Summary
SPK remains technically weak, but base-building near support could trigger a short-term rebound. Trend flips bullish only above $0.0233. Until then, range trading with caution is preferred.
Trade with patience. Protect capital. Let price confirm. 📊