SPK continues to show signs of weakening as the Elder-Ray Index reflects a steady decline in bullish momentum. While the indicator has consistently printed green bars—generally interpreted as a sign of buyer strength—their diminishing size over recent sessions tells a different story.
This contraction in bullish pressure suggests that buyers are gradually losing control, with each session offering less support for a price rebound. The indicator’s trend mirrors SPK’s broader market behavior, adding further weight to the token’s bearish outlook. Traders should remain cautious, as the fading strength from bulls reinforces the prevailing downtrend.
This contraction in bullish pressure suggests that buyers are gradually losing control, with each session offering less support for a price rebound. The indicator’s trend mirrors SPK’s broader market behavior, adding further weight to the token’s bearish outlook. Traders should remain cautious, as the fading strength from bulls reinforces the prevailing downtrend.
Full story here beincrypto.com/
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Full story here beincrypto.com/
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.