$SPCX | Market Update: Recovery Begins, But Major Resistance Awaits?
SPCX is showing a strong rebound after finding support near $104.31, with the current price trading around $124.63. The sharp bounce suggests buyers have stepped back into the market after an extended downtrend. While this is an encouraging sign, the broader structure is still bearish, and bulls must continue printing higher highs and higher lows to confirm that a sustainable recovery is underway.
The first resistance to watch is $130–$135, followed by the stronger supply zone around $150–$170. A breakout above these levels would significantly improve the market structure and could trigger a larger recovery toward previous highs. On the downside, $115 is the nearest support, while $104.31 remains the key level that bulls must defend. As long as price stays above this support, the recovery remains valid, but traders should wait for confirmation rather than chasing short-term pumps.
Trade From Here (DYOR) 👇
SPCX is showing a strong rebound after finding support near $104.31, with the current price trading around $124.63. The sharp bounce suggests buyers have stepped back into the market after an extended downtrend. While this is an encouraging sign, the broader structure is still bearish, and bulls must continue printing higher highs and higher lows to confirm that a sustainable recovery is underway.
The first resistance to watch is $130–$135, followed by the stronger supply zone around $150–$170. A breakout above these levels would significantly improve the market structure and could trigger a larger recovery toward previous highs. On the downside, $115 is the nearest support, while $104.31 remains the key level that bulls must defend. As long as price stays above this support, the recovery remains valid, but traders should wait for confirmation rather than chasing short-term pumps.
Trade From Here (DYOR) 👇