The pulse of SPK can be described with four characters—big swings.

Rising from 0.03 to 0.062, then dropping 22.6% in one day back to 0.044.
This is not ordinary fluctuation; it's a battle between bulls and bears like gods fighting.

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Observation: Short-term structure

The short-term trend has weakened.
RSI jumped from over 80 at a high level, a typical violent correction after overbought conditions.
Single-day trading volume reached 700 million USD, nearly five times the market cap—some are desperately buying, others are desperately selling.
Key levels are very clear: 0.037-0.044 is the life-and-death zone, resistance above at 0.052-0.055, and above that, 0.062 is the previous high.

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Hearing diagnosis: Fundamentals

Good news piled up to the sky, but the price was hammered into a dog.

After the Aave hack incident, funds flooded into Spark like a tide: TVL soared from 1.9 billion to over 986k, with a net inflow of 2.4 billion USD in four days.
At least 20 whales each deposited over 20 million USD.
Spark spent $986k in Q1 to buy back SPK, and the treasury grew 5.7% to $46.1 million.

But what about the price?
It rose 100% then fell back to the starting point.

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Questioning diagnosis: Capital flow

Brother Sun is offloading.
A whale related to Sun Yuchen just transferred 120 million SPK from the staking contract to an exchange, worth $5.51 million.
Brother Sun is both the largest depositor (with $1.3 billion assets in Spark) and a potential major seller.
Plus, a fixed daily unlock of 5 million SPK, this selling pressure cannot be ignored.

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Cutting diagnosis: Strategy

Conclusion: Short-term bulls and bears are locked in a tug-of-war.
0.040-0.044 is the battle zone.
If it doesn’t break, consider a rebound; if it breaks, stop-loss and be honest.

Situation | Action
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Pullback to 0.040-0.044 without breaking | Small positions in batches to fight for a rebound, target 0.052-0.055
Break through 0.055 with volume | Chase on the right side, target 0.062→0.07
Fall below 0.037 | Stop-loss and exit, next target 0.03
Fall below 0.03 | Bullish structure is broken, unconditional exit

Positioning rule: For assets with 20%+ volatility, do not exceed 15% of total assets.
Set stop-loss orders when entering.

SPK’s fundamentals are indeed solid—TVL doubled, 500 million tokens staked, institutions rushing in.
But in the short term, it depends on Brother Sun’s mood; this reality must be accepted.