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$SPK Currently Consolidating with bearish trend
Price is hovering around 0.020–0.021 right now. 24h volume is solid at ~385M, but a big chunk of it came during those sharp dumps (spikes over 1B on some candles), which screams selling pressure.
Capital flow-wise, perpetuals are showing consistent outflows across timeframes: ~ -280k USDT in 1h, -272k in 24h, and even more negative over 7d. Spot flows are mixed but leaning bearish on longer periods too – looks like people are either taking profits or just de-risking.
*Quick breakdown
$SPK - Price is consolidating, but the bias remains bearish since it hasn't broken MA20 (~0.02157) yet.
- Bollinger Bands middle is acting as resistance, and the lower band sits around 0.0183 – a break below that could send it lower.
- RSI isn't oversold, MACD hasn't flipped bullish.
*Trade idea
$SPK :
- Looking to short if price rejects hard at MA20 or middle BB, entry around 0.021–0.0215.
- Stop loss at 0.0225
- Main target: lower BB at ~0.0183
If it somehow breaks MA20 (~0.02157) with strong volume, I’d reconsider going long, but right now no clear bullish signal.
#SPK #SPKUSDT #Spark