SPX climbs 10% as memecoins charge in – But watch out for THIS level!

• SPX is trying to earn MEMECOIN Market on the market and break over $ 1.37.
• Derivative data showed $ 23.65 million in new long positions, shifting an open interest rate by 17% to $ 139.17 million.

Over the past 24 hours, SPX6900 [SPX] He gathered significantly, gained more than 10% and extended his four -week bull lane to a cumulative 16%.

Market analysis indicated a high probability of continuing the assembly, although some established barriers could still limit movement up.

Meme-Feeled Madness

The recent increase in SPX seems to be associated with the power of the MEMECOIN sector in the last seven days.

For ArtemisMEMECOINS were the top class of crypto assets, with 3.9% of the profit placed them on the top of the sector ranking. Tokens like Herd and Dogecoin [DOGE] They were significantly beneficial from this increase.

Adding additional support to the SPX rally is a significant increase in derivative business activities, increasing the liquidity and long positions.

Derivatives go long and loud

From this writing, Coinglass It turned out that SPX with open interest rates of weighted financing to 0.0076%, which is firmly in a positive area.

The positive rate of open interest financing suggests that most open positions come from long traders who expect upwards, which signals the bull market sentiment.

Moreover, not only most of the contracts placed long, but these traders also injected more capital, which pushes open interest higher.

Traders added $ 23.65 million to SPX in just $ 24, opening an open interest rate of 17% to $ 139.17 million.

Spot Investors becomes bear as durable bite

SPX profits follow the escape from the bull triangle pattern on the last day, usually a signal of wider movement up, potentially target $ 1.74 at the top of the current channel.

However, the rally is now facing headwinds, especially at the level of resistance $ 1.37. In the last 24 hours, SPX has made two unsuccessful attempts to break this price point.

On the market site, Bearish sentiment seems to be growing.

Over the past 24 hours, the Spot Investors have sold SPX worth approximately $ 527,000 after two days of stable accumulation. If this sales pressure continues, SPX could drop and strengthen resistance to current levels.

Indicators still prefer a bull case – for now

On the technical side of the MacD, the Golden Cross flashed when the MacD line climbed above the signal line. This crossover is historically coping with short -term bull escapes, provided that momentum is maintained.

Adding weight to the housing, the money flow index (MFI) increased to 74.53, significantly above the typical 50-70 bulls. This indicated a strong influx of capital and the persistent pressure on the purchase side.

With increasing MACD and MFI confirming aggressive accumulation, SPX could soon re -perform $ 1.38 – $ 1.40.

But the difference between derivative optimism and caution is worth watching. If financing support is weakening or intensive sales, the assembly may lose a couple.

Meanwhile, all eyes remain $ 1.37, a level that could be rooted or crowned.