$SPELL is moving again, but the interesting part isn't the 25% candle.
Abracadabra hasn't announced a game-changing upgrade recently. What changed is the market. Capital is rotating back into DeFi, and older protocols like SPELL are starting to wake up after spending months near cycle lows. That's why I see this as a liquidity trade first, not a fundamental re-rating.
On the 4H chart, SPELL bounced cleanly from the $0.000086 area and is trying to establish a higher high. The 15M shows buyers defending above $0.000110 after rejecting the intraday top at $0.000130. That's a healthier structure than a straight vertical pump.
Strategy
• Entry: $0.000106-0.000110
I'd rather buy a pullback into fresh support than chase another green candle.
• Stop Loss: $0.000099
Losing this level would put SPELL back inside the old range.
• TP1: $0.000130
The recent high where sellers stepped in.
• TP2: $0.000150
If DeFi momentum stays strong, this becomes the next psychological target.
SPELL still needs a real catalyst, but as long as DeFi keeps attracting liquidity, I don't mind waiting for a clean retest instead of rushing in.
Abracadabra hasn't announced a game-changing upgrade recently. What changed is the market. Capital is rotating back into DeFi, and older protocols like SPELL are starting to wake up after spending months near cycle lows. That's why I see this as a liquidity trade first, not a fundamental re-rating.
On the 4H chart, SPELL bounced cleanly from the $0.000086 area and is trying to establish a higher high. The 15M shows buyers defending above $0.000110 after rejecting the intraday top at $0.000130. That's a healthier structure than a straight vertical pump.
Strategy
• Entry: $0.000106-0.000110
I'd rather buy a pullback into fresh support than chase another green candle.
• Stop Loss: $0.000099
Losing this level would put SPELL back inside the old range.
• TP1: $0.000130
The recent high where sellers stepped in.
• TP2: $0.000150
If DeFi momentum stays strong, this becomes the next psychological target.
SPELL still needs a real catalyst, but as long as DeFi keeps attracting liquidity, I don't mind waiting for a clean retest instead of rushing in.