Technical analysis by CryptoNuclear about Symbol SPX: Buy recommendation (1/4/2026)

SPX6900 has been moving in a clear downtrend structure, characterized by consistent Lower Highs (LH) and Lower Lows (LL). The descending trendline has been acting as strong dynamic resistance since the price peaked around the 1.6 USDT area. Currently, price has reached a major demand zone (support area) around 0.45 – 0.55 USDT, highlighted by the yellow box on the chart. This zone has historically triggered strong buying reactions. Most importantly, recent candles show a bullish reaction and an attempt to break above the descending trendline, signaling potential momentum exhaustion on the bearish side. --- 📐 Pattern Explanation 1. Descending Trendline (Bearish Market Structure) Price has been trading below the descending trendline for an extended period. Every bullish attempt was rejected at the trendline, confirming seller dominance. 2. Strong Demand / Accumulation Zone The 0.45 – 0.55 USDT area acts as a key support level. Multiple rejections from this zone indicate accumulation by buyers. 3. Early Trendline Break Attempt Price is attempting to break the descending trendline. A daily close above the trendline is required for valid confirmation of a trend shift. --- 📈 Bullish Scenario If price: Closes above the descending trendline Holds above the 0.55 – 0.60 USDT support area Then bullish continuation becomes likely, with upside targets: 🎯 Bullish Targets (Resistance Levels): 0.725 USDT 0.925 USDT 1.00 – 1.125 USDT 1.35 USDT 1.50 – 1.60 USDT (major resistance zone) 📌 This scenario will be strengthened by increasing volume and the formation of Higher Lows (HL). --- 📉 Bearish Scenario The bearish scenario remains valid if: Price fails to hold above 0.55 USDT Strong rejection occurs at the descending trendline ⚠️ Downside risks: Retest of the 0.45 USDT support Breakdown below demand may push price toward 0.40 – 0.36 USDT 📌 A clean breakdown below the demand zone would invalidate the reversal scenario and confirm bearish continuation. --- 🧠 Key Takeaway SPX6900 is currently trading at a critical decision zone: Major demand area Descending trendline breakout attempt Price is deciding between: 👉 A bullish reversal and trend change or 👉 Continuation of the broader bearish trend Daily candle confirmation is crucial. --- #SPX6900 #SPX6900USDT #CryptoTechnicalAnalysis #AltcoinAnalysis #DailyChart #TrendlineBreak #DescendingTrend #DemandZone #SupportResistance #BullishScenario #BearishScenario #PriceAction #CryptoTrading