Technical analysis by IamSteven about Symbol SPA: Buy recommendation (5/9/2025)

Sperax is consolidating in a bullish pennant pattern after a strong recovery rally off the March lows. Price action has tightened between ascending support and descending resistance, forming a textbook continuation setup. Volume has decreased during this compression, which is often a precursor to explosive movement.Fundamental Catalysts (Despite GENIUS Act Stalling):Retail DeFi Narrative is Still Alive – While the GENIUS Act failed in the Senate, the momentum for regulatory clarity in the DeFi space continues. Future bills or executive actions could unlock capital flows to protocols like Sperax.Deflationary Pressure—Over 13% of the total SPA supply has been burned, with more tokens locked and lost. The actual circulating supply is meaningfully lower than the total supply shown on aggregators.SIP-70 has been passed, shifting SPA emissions from an automatic release model to a DAO-controlled emission schedule. This marks a significant milestone towards sustainable tokenomics and the preservation of long-term value.Long-Term Accumulation – Wallet data and order books suggest that whales and long-term holders quietly accumulate during this sideways range.Sperax remains a low-cap token with outsized potential in the next altseason if it secures even one meaningful partnership or fiat on-ramp.