2025-11-21 20:30:11

SPX6900 Got Rekt: Down 14% in 24H, More Pain Coming?

Memecoin SPX6900 is taking a beating—price just tanked to $0.77, down 14% in the past day. Sounds rough, but here's the real red flag: open interest crashed from $18.96M (October 7) to just $9.30M. That's a massive drop in trader activity, and it usually means the hype is dying.

The chart's screaming bearish signals too. Death cross appeared (50 SMA crossed below 200 SMA), RSI hit 35.86 heading toward oversold territory, and that MACD? Orange line just dipped below the signal line. Classic momentum reversal setup.

Volume spiked 15% to $28M, which is interesting—could mean some buyers testing the waters. But long/short ratio sits at 0.88, the lowest in a month. Bears are firmly in control.

**Where's this going?** If the selloff continues, watch $0.65 as next support. Worst case? Could see $0.48 if panic kicks in. On the flip side, if bulls manage to reclaim $1.13 (the 50-SMA level), SPX might bounce back toward $1.20.

Bottom line: The technical setup is rough right now. Not saying it's game over, but traders should wait for confirmation before catching this falling knife.

SPX-1,02%

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