$SPX Market Update — High Tension Zone
SPX trades at $0.3896, down 6.9% on the day as selling pressure stays dominant. Market cap stands at $362.77M with $12.85M in on-chain liquidity and a strong 49,122 holders. FDV is near $389.66M, keeping valuation tight.
Price is now below all major moving averages: MA7 at $0.44, MA25 at $0.54, and MA99 at $0.63, confirming a clear bearish structure. The recent drop tested the $0.37 support area, a critical level to hold. Failure here opens the door to deeper downside.
On the upside, $0.47 is the first resistance, followed by a major sell wall near $0.54. Volume remains elevated, signaling active distribution and high volatility.
Momentum is weak, tension is high, and the next move from this support zone could define SPX’s short-term fate.