$SPCX ‌$SPCX is currently trading around $150.08 after a sharp intraday decline of around 3.48%, but the chart is starting to show an interesting bullish recovery setup rather than pure weakness.

The price opened near $155.51, pushed lower, and tested the lower region around $146.74 to $147.60. This area is important because the market did not continue breaking down aggressively after tagging the day’s low. Instead, price started showing signs of stabilization near the lower range, which can often indicate seller exhaustion after a fast downside move.

From a bullish perspective, the key signal here is the reaction after the drop. The chart shows a long intraday downtrend from the $209 region into the $147 zone, meaning a lot of selling pressure has already been priced in. When a chart falls this much and then begins moving sideways or slightly recovering near the lows, it often becomes a potential accumulation zone where stronger buyers start absorbing panic selling. The first bullish confirmation would come if $SPCX reclaims the $155 to $160 area. That would show that buyers are strong enough to push price back above the opening zone and regain short-term momentum. Above that, the next major resistance would be around $166, then $180, and eventually the previous high zone near $190 to $209.

As long as $146 to $147 holds as support, this chart still has a bullish reversal structure. The downside looks extended, sellers may be losing momentum, and the current area could become a base for the next upside attempt. A strong bounce from here would signal that the market is shifting from fear selling into recovery mode.

$SPCX is not weak in structure if buyers protect this lower range. It is simply in a deep pullback phase, and deep pullbacks often create the best bullish setups once price starts reclaiming lost levels.

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