SPX drops 10% in 24 hours amid liquidity squeeze – Can bulls bounce back?

• The SPX decrease remains at a critical point because it is traded to possible demand zone.
• The flow of liquidity and the volume of trading achieved a new low and supported increased sales pressure from bears.

SPX6900 [SPX] It has seen the main loss in the last 24 hours, dropping by 10.27%, as the trading volume fell by $ 31 to $ 59 million, causing its price to fall to $ 1.14.

Sales pressure seems far from more than overhanging, as the bears on the market continue to interpret. However, the level of demand now serves as the last hope of bulls for the market assembly. Ambcrypto looks at what will happen next.

SPX Bulls are fighting because the price hits the key demand zone

Analysis 4 -hour SPX chart They showed that the asset was traded in the demand zone for real value (FVG). This applies to price levels where unoccupied shopping orders lie, usually act as a catalyst for potential reflection.

In this case, the jump could lead the SPX back to a maximum of $ 1.36, which represents 17.93% jump.

However, if FVG demand fails, SPX could drop to a lower demand level between 1.056 and $ 1.025.

This lower level of demand has previously launched pressure on the latest maximum of over $ 1.4. A similar step can be replicated if SPX returns to this zone.

Crunch liquidity deepens negligent pressure

Ambcrypto analyzed other market indicators to assess whether it is likely that the current FVG demand zone will have.

For this purpose, two key technical indicators were considered: Flow Money Flow (CMF) and money flow index (MFI).

The CMF monitors whether the purchase or sale of volume is dominated on the market, based on its position above or below 0. At the time of CMF, she read at -0.10, suggesting that sellers are currently dominating.

This trend has led to a significant decline in market liquidity, as MFI also shows. MFI monitors the influx of liquidity (over 50) or drain (below 50) for asset.

The MFI was 42.6 at the time of the press, which meant increased drains and placement of the SPX on the critical point. With the sale of volume and liquidity to the market, the FVG level on the graph is less likely.

Through the crash, SPX still dominates

The wider market view shows that SPX remains one of the most important assets.

CoinMarketcap’s The 90-day performance index for cryptocurrencies shows that SPX has acquired 131%during this period is the best powerful memecoin on the market.

This trend suggests that the constant interest in the SPX and the significant potential for reflection.

This interest also reflects a medium -term outlook based on community sentiment, while 82% of investors voted to remain on the bull assets despite a recent decline.

Overall, while the SPX can be on the brink of other drops, the bulls are not dead yet.