Technical analysis by FIBZnCRIBZ about Symbol SPX on 8/9/2025

SPX----- Structure Detected Price is in a rising parallel channel with multiple touches on both upper and lower trendlines — a sustained bullish structure since the left side of the chart. Recently, price pulled back to the lower channel boundary and is now bouncing upward. There’s a horizontal resistance around 2.3433 and a major support base near 1.08. Volume profile (VRVP) shows high-volume node around the current price (1.93), meaning this area has been heavily traded — often a pivot zone. The recent candles show consecutive green Heikin Ashi candles, indicating current bullish momentum after the correction. Market Bias Short-term: Bullish (rebound from lower channel, green candles, reclaim attempt of mid-channel). Medium-term: Still bullish while inside the ascending channel, but caution near the 2.34 resistance as it’s been a rejection zone before. Bullish Targets 2.00 – 2.05 → reclaim and hold to confirm momentum. 2.34 (major resistance and top of volume profile) — key breakout point. If 2.34 breaks with conviction, upside targets move toward ~2.80 – 3.00 (upper channel). Bearish Levels / Invalidation First warning if price closes back below ~1.75 (loses mid-channel support). Strong breakdown confirmation if 1.50 fails (mid-volume node). Full structure breakdown below 1.0834 — would invalidate the bullish channel. 🕰️ Timeframe-Based Targets Daily Swing Targets: Upside: 2.00 → 2.34 → 2.80 Downside: 1.75 → 1.50 → 1.083 Summary: SPXUSDT is still in a broader uptrend channel and is currently bouncing from the lower boundary. The immediate battle is reclaiming the 1.93–2.00 zone to set up a run toward 2.34. A rejection there could send price back toward 1.75–1.50, but until the lower channel breaks, the structure remains bullish.