SPX6900 Forms Head and Shoulders Pattern, Bears Eye Drop Toward $0.50 Zone

SPX6900 head and shoulders pattern, hinting at a possible reversal if the price breaks its neckline support zone.

Market cap fell from $1.6 billion to $1.1 billion, as traders adjusted positions around support levels.

RSI shows SPX6900 nearing oversold territory, a signal of active market participation.

SPX6900 is flashing danger signs with a classic head and shoulders pattern—teetering on the $1.25 neckline and risking a sharp plunge toward $0.50. Traders brace for a fierce battle between bulls and bears!

Technical Structure and Pattern Formation

Insights shared by analyst Ali Charts show the SPX/TetherUS perpetual contract, where the price structure shows a clear “Head and Shoulders” setup. The neckline acts as a crucial support level, and a confirmed break below it could signal further downside pressure.

According to the analysis, SPX is trading near $1.25, with projections indicating a possible decline toward $0.50–$0.60 if the pattern completes. In the past when a breakdown below the neckline occurred it often triggered an extended downward move

The pattern is a reversal indicator, which often marks the transition from bullish momentum to a bearish phase. A breakdown will likely attract sellers, while a bounce above the neckline might temporarily stabilize prices.

Market Range and Key Levels

The broader SPX chart outlines a defined range with visible support and resistance zones, color-coded for clarity — green representing demand areas and red marking supply zones. The yellow trend lines point to two projected price phases that traders are closely following.

Phase A outlines a potential downward movement toward the lower support area, reflecting a possible corrective phase in the short term. Phase B anticipates a recovery toward the next resistance zone around 6,740–6,760, where sellers may re-enter.

A move above resistance could signal renewed buying interest and a possible trend reversal.Market participants continue to trade cautiously within the established range.

Market Cap, Volume, and RSI Observations

SPX6900’s market cap has been quite shaky throughout October 2025. It jumped up close to $1.6 billion but then dropped back below $1.1 billion, showing that investors are changing their minds quickly.

Trading volume Pattern shows a lot of activity during both the rise and fall. This means many traders are moving in and out.

The Relative Strength Index (RSI)is closing on the oversold territory. That might lead to a short break or even a small bounce back if selling calms down. But to be sure, we’ll need to watch how the price and volume behave next.

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