SPX6900 drops 16% in 24 hours, but is this the start of a new rally?trended downward in the last 24 hours, dropping 16%. But using the 1-month chart, this drop appears to be a corrective move, especially when compared to the 106% gain recorded over the same period.

Chart analysis paints a clear picture—SPX may decline further before staging a strong rally. AMBCrypto outlines how this could unfold.

When price revisits a support level multiple times, a breakdown often follows. This implies that if SPX fails to rally from this point, further downside is likely before any significant rebound.

If SPX declines again, there are three key levels to watch: $1.30, $1.22, and $0.91. These represent potential reversal zones, depending on buying momentum at each level.

AMBCrypto also analyzed additional market metrics to gauge the memecoin’s next possible move—and found consensus.

SPX downside risk grows: But here’s the limit

The Bollinger Bands helps determine potential price direction based on interactions with the upper 

Why support zone could be the turning point

SPX’s price action indicated that the asset had entered a key support zone at press time—a zone that has previously acted as a