7.8 Wednesday afternoon SPCX analysis

SPCX is currently trading at around $151.36, with a 24-hour drop of 4.52% and a weekly decline of over 10%, hitting an all-time low during the session. Despite the expectation of passive fund inflows after being officially included in the Nasdaq 100 Index, it remains dragged down by the collective pullback in the US tech sector, with short-term speculative capital fleeing en masse.

The circulating supply on the market is scarce. After an initial surge to a high of $225 during the listing hype, valuation has continued to digest, coupled with hedging pressure from options expiration, further amplifying the bearish oscillating trend. The key technical support is at $147 (multiple dense trading zones), with the ultimate downside defense at the IPO price of $135; short-term resistance stands at $160-$165. A breakout with volume is needed for a reversal, with strong resistance above in the $176-$190 range.

Trading suggestion: short on a rebound to $155-$160, target $150, and if broken, look at $147$BTC $ETH $SOL