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crypto.news 2025-06-25 17:40:45

SPX6900 bounce could fail at $1.42, confirming bearish shift

SPX6900 has rebounded from support after a steep drop but now faces heavy resistance. A failure to reclaim $1.42 could confirm a full bearish structure shift and deeper downside. After printing an all-time high, SPX6900 ( SPX6900 ) experienced a dramatic decline, breaking below prior higher lows and invalidating the bullish market structure. The current bounce, while aggressive, is testing a dense confluence of resistance levels, suggesting this move could be a bearish retest rather than a true reversal. Key technical points Bearish Market Structure: Lower high and lower low now in place after trend break. Critical Resistance at $1.42: Point of control, 0.618 Fibonacci, and high time frame level align. Full Auction Rotation Risk: Value area low is the next key downside target. SPX6900USDT (1D) Chart, Source: TradingView The loss of the higher low structure marked a major technical shift for SPX6900. For weeks, price action had maintained a clear uptrend, printing consecutive higher lows en route to an all-time high. But the recent drop broke this sequence, forming a new low and shifting the trend into bearish territory. The current bounce has pushed price back into the $1.42 resistance zone, a level loaded with technical significance. Not only does this mark a high time-frame resistance level, but it also aligns with the point of control of the current trading range and the 0.618 Fibonacci retracement from the recent decline. Together, these form a strong confluence that price must reclaim to even begin rebuilding bullish momentum. You might also like: XRP rallies off $1.92 low but weak volume puts this support level at risk Without a clean break above this area, the current price action is best interpreted as a bearish retest, a common technical reaction after a market structure breakdown. This scenario increases the likelihood of a continuation move to the downside, with the value area low acting as the next key target. If this auction rotation completes, it would confirm the transition from an uptrend to a developing downtrend, with lower highs and lower lows defining the new structure. Adding to this, there is significant inefficiency and untested liquidity below the current price. These areas often act as magnets, drawing price lower before any sustained reversal can occur. That increases the probability of a continued move downward unless bulls can defend critical levels on any retest. What to expect in the coming price action SPX6900 is trading at a make-or-break resistance zone. If bulls reclaim $1.42 and flip it into support, it could stabilize the trend. However, failure to break above will likely confirm a bearish retest and trigger a move toward the value area low. Immediate support sits at $0.97 and must hold to prevent further downside acceleration. Read more: $2k in SOL at $0.50 made millionaires: This penny token could repeat it in 2025

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