The SPK token continues to face pressure, dropping 3.12% overnight and nearly 10% over the past week. However, some positive trends have been noted in the Sparks ecosystem.
Overview of SPK Token
Currently, the market capitalization of SPK stands at $106.58 million, with trading volume rising to $541.6 million. The token briefly peaked at $0.085 before retreating to current levels.
SPK Token Price Analysis
From a technical standpoint, SPK price has found support at the 78.6% Fibonacci retracement level around $0.06645. The RSI-14 has recovered from the oversold territory of 30 to around 44, while the MACD reflects slowing bearish momentum. Key resistance levels to watch are the 7-day SMA at $0.0735 and the pivot point at $0.0759. A confirmed close above $0.0759 could open the way to $0.0835.
Frequently Asked Questions
Why is SPK’s price falling? Whale buying indicates confidence, but broader market corrections and profit-taking are weighing on the price. What price levels are crucial for SPK now? Support is around $0.066, while resistance is at $0.0735 and $0.0759.
The price of SPK token remains under pressure, but there is potential for recovery if key resistance levels are overcome.
