Recently, the token SPX6900 has seen a significant price rise, marking a 20% increase over the week, though user activity raises questions.
SPX6900 Shows Market Growth
The current price of SPX6900 is $1.42, up 8% compared to the past day after an earlier 11% increase. The token has seen approximately a 20% gain over the last 7 days. Market capitalization now stands at $1.32 billion, based on a circulating supply of 930 million tokens. Daily trading volume reached $94.4 million, with price action ranging from $1.28 to $1.44.
Trendline Support and Upcoming Resistances
SPX6900 continues to follow a rising trendline established since May. The price hovers around $1.36, which has served as crucial resistance in recent weeks. A close above $1.36 with high volume may open the path to $1.56. The current RSI stands at 58.29, indicating bullish momentum without showing overbought conditions.
Decline in Address Activity Amid Price Surge
Data from IntoTheBlock shows that the total addresses have reached 1.56K. New addresses stand at 172, down by 8.44% compared to the previous week, indicating a slow in new user participation growth. Active addresses have declined by 9.40% with a count at 1.23K. Despite the decrease in address metrics, the price remains strong.
While SPX6900 has seen significant price growth, the decline in user activity might indicate potential market stabilization. Future price movements are uncertain.
