SPX6900 (SPX) Price Soars 30% as Golden Cross Signals Further Gains

SPX6900 (SPX) price has surged nearly 30% in the last 24 hours, pushing its market cap close to $1.3 billion and solidifying its position as one of the biggest meme coins. This rapid increase has also driven SPX’s RSI to its highest level since January 19, signaling strong buying pressure but approaching overbought territory.

Meanwhile, Smart Money activity shows a net inflow of $35,096, suggesting growing interest from influential traders. Whether SPX continues its uptrend toward $1.8 or faces a correction depends on key resistance and support levels in the coming days.

SPX RSI Rises Without Crossing Overbought Threshold

SPX6900 RSI surged from 43.5 to 66 in just one day following its recent 30% price increase. That surge also placed SPX in the 6th place among the biggest meme coins in the market. The RSI (Relative Strength Index) is a momentum indicator that measures the speed and magnitude of price movements on a scale of 0 to 100.

Readings below 30 indicate an asset is oversold, while levels above 70 suggest it is overbought. A rising RSI reflects increasing bullish momentum, while a declining RSI signals weakening strength or potential price corrections.

SPX RSI. Source: TradingView

SPX6900 RSI is now at 66, its highest level since January 19, signaling strong buying pressure. While it has not yet reached the overbought threshold of 70, it is approaching a level where traders may start watching for potential exhaustion.

If RSI continues rising past 70, SPX price could see further upside but may also become vulnerable to a pullback. However, if RSI stabilizes near this level, it could indicate sustained bullish momentum, allowing the uptrend to continue.

Smart Money Records $35,000 Net Flow in SPX

In the last 24 hours, two Smart Money addresses accumulated SPX, with one purchasing $3,104 and the other buying $52,287. Meanwhile, another Smart Money address sold $20,295 worth of SPX.

Tracking these wallets is crucial because Smart Money refers to institutional or high-net-worth traders with a history of making profitable moves. Their buying or selling activity can provide insights into market sentiment and potential price direction, as they often act ahead of broader retail traders.

Smart Money Who Bought SPX6900 In The Last 24 Hours. Source: Nansen

The recent Smart Money inflows suggest growing interest in SPX, as the total buying volume exceeded selling volume. While one wallet offloaded SPX, the larger accumulation signals confidence from key players.

Smart Money Who Sold SPX6900 In The Last 24 Hours. Source: Nansen

If this trend continues, it could indicate increasing demand, supporting SPX price appreciation. However, if selling pressure rises among Smart Money wallets, it could suggest a shift in sentiment, potentially leading to a reversal.

SPX Price Prediction: Will It Test $1.5 Soon?

SPX price chart indicates that its EMA lines are on the verge of forming a golden cross, a bullish signal that could strengthen upward momentum. If this crossover happens, SPX could test resistance at $1.55, and a breakout above this level could push the price toward $1.8.

A golden cross typically suggests a shift in trend, reinforcing buyer confidence and attracting more interest. The next few sessions will be crucial in determining whether SPX price can sustain its recent gains and continue its upward trajectory.

SPX Price Analysis. Source: TradingView

However, if the current hype fades and buying pressure weakens, SPX price could reverse its trend and test support at $1.23.

A break below this level could accelerate selling, potentially dragging the price down to $0.96. If this scenario unfolds, SPX risks losing its spot among top meme coins to FARTCOIN, FLOKI, and WIF.

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