Date: Sun, Dec 28, 2025 | 09:40 AM GMT
The broader cryptocurrency market is showing modest strength, with both Bitcoin (BTC) and Ethereum (ETH) trading in the green. This steady performance among major assets has helped stabilize overall sentiment, allowing select memecoins — including SPX6900 (SPX) — to begin showing constructive technical setups.
SPX is trading with a modest intraday gain, but more importantly, its price structure is starting to reflect a classic bullish reversal pattern. After weeks of sustained downside pressure, buyers appear to be stepping back in at key levels, hinting that the worst of the correction may already be behind.
Source: Coinmarketcap
Double Bottom Pattern in Play
On the daily timeframe, SPX is forming a double bottom pattern — a widely followed bullish reversal structure that often appears near the end of prolonged downtrends. The first bottom formed in November when SPX dropped toward the $0.45 region, followed by a recovery that carried price back toward the neckline resistance near $0.7389 in early December.
That recovery attempt, however, was rejected, sending SPX back down to retest the same $0.45 support zone. Importantly, sellers failed to push price meaningfully lower on this second attempt. Instead, SPX printed another strong reaction from the same demand area and has since rebounded to trade around $0.5045.
SPX6900 (SPX) Daily Chart/Coinsprobe (Source: Tradingview)
This repeated defense of the same support level is a critical technical signal. It suggests that selling pressure is weakening while buyers are gradually absorbing supply — a behavior typically seen during accumulation phases before trend reversals.
What’s Next for SPX?
For the bullish structure to strengthen, SPX must reclaim the 50-day moving average, currently positioned near $0.5770. A sustained move above this level would mark an important shift in short-term momentum and increase the probability of a continued recovery toward the neckline resistance at $0.7389.
A decisive breakout above the neckline — ideally followed by a successful retest — would confirm the full activation of the double bottom pattern. In that scenario, the technical projection points toward a potential upside target near $1.02, representing a significant expansion from current price levels.
Until then, the $0.45 support zone remains the most important level to watch. As long as SPX continues to hold above this area, the broader bullish setup stays intact and allows room for further upside attempts.
Overall, SPX’s structure appears constructive. The presence of a double bottom, repeated demand at identical lows, and proximity to the 50-day moving average suggest that this could be a pivotal moment as the token attempts to transition from accumulation into a new expansion phase.
Disclaimer: The views and analysis presented in this article are for informational purposes only and reflect the author’s perspective, not financial advice. Technical patterns and indicators discussed are subject to market volatility and may or may not yield the anticipated results. Investors are advised to exercise caution, conduct independent research, and make decisions aligned with their individual risk tolerance.
About Author: Nilesh Hembade is the Founder and Lead Author of Coinsprobe, with over 5 years of experience in the cryptocurrency and blockchain industry. Since launching Coinsprobe in 2023, he has been providing daily, research-driven insights through in-depth market analysis, on-chain data, and technical research.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
ETH/BTC Price Ratio Rebounds to 0.0313 in Q1 2026 as Ethereum User Base Surges 82%
In Q1 2026, the Ethereum-to-Bitcoin price ratio reached a three-month high at 0.0313. Ethereum added 284,000 users and surpassed $180 billion in stablecoin supply. Bitcoin remained strong above $74,000, driven by significant ETF inflows.
GateNews2h ago
Why is Bitcoin up today? Trump says Iran is seeking a truce, and risk assets move higher across the board
On April 15, Bitcoin rebounded about 6% after Trump said Iran is seeking to reach an agreement, breaking above $75,000. Expectations for the resumption of U.S.-Iran negotiations warmed up, lifting Asian stock markets. Technically, roughly $6 billion worth of short positions were forced to close, accelerating the rebound. Analysts said that if the U.S.-Iran situation continues to ease, Bitcoin could break through $80,000, and they predicted it may reach $150,000 by year-end.
MarketWhisper6h ago
Bitmine is promoted to the NYSE main board! Tom Lee: US stocks may be at a bottom, and selling pressure on Ether could ease
Bitmine officially transferred from the NYSE American market to the main board, marking a significant milestone for the company. Despite a sharp drop in its share price, it still increased the share repurchase program to $4 billion. The company holds a large amount of Ether, and expects that a rebound in the crypto market will help improve its assets and share price performance.
CryptoCity6h ago
ETH 15-minute up 0.66%: On-chain large transfers in sync drove a net inflow of funds, boosting spot buying pressure
2026-04-15 00:00 to 00:15 (UTC), ETH shows a local anomaly. The 15-minute return rate is +0.66%. The trading price range is 2321.93–2343.2 USDT, with a range of 0.92%. During this period, market attention increased, volatility slightly intensified, buy pressure in the order book shifted upward in the short term, and quickly pushed spot prices up into a key resistance area.
The main drivers of this anomaly are large on-chain transfers and inflows of capital in combination. At the beginning of the window, multiple large ETH transfers appeared, including 8,676 ETH and 6,551 ETH, respectively, transferring from a large source to the
GateNews6h ago
BTC 15-minute drop of 0.54%: Liquidity worsens and whales actively reduce positions, putting short-term pressure on the market
From 22:15 to 22:30 (UTC) on 2026-04-14, BTC saw a short-term pullback of 0.54% within the high-range band of 73911.6 - 74314.4 USDT, with a return of -0.54%. During this period, market swings were evident, volatility intensified, attention from the market quickly increased, and downward pressure on the order book was prominent.
The main drivers behind this unusual move were the continued deterioration of market liquidity and a clear lack of order book depth, which made the BTC price extremely sensitive to large sell orders. At the same time, during the key time window, whale wallets carried out large transfers and also engaged in active de-risking,
GateNews8h ago
ETH 15-minute drop of 0.61%: Sell orders concentrate and release while bearish sentiment intensifies, increasing downward pressure
2026-04-14 22:15 to 2026-04-14 22:30 (UTC) during this period, on the 15-minute K-line, ETH recorded a -0.61% return, with a price range of 2313.68 to 2328.54 USDT and a fluctuation of 0.64%. During this period, market attention increased, trading volume expanded noticeably, and heightened short-term volatility sparked strong interest in the subsequent trend.
The main drivers behind this unusual move are the concentrated release of sell orders and continued net outflows of on-chain funds. Specifically, the sell volume share rose to 52%, higher than the buy side at 48%, indicating heavy selling pressure
GateNews8h ago
