SPK crypto up 280% in 30 days – Will the rally hold in August?
Main Idea
Spark crypto (SPK) surged 280% in 30 days due to staking hype and Coinbase CEO's endorsement, but its future rally depends on market conditions and key support levels.
Key Points
1. SPK's price surged 280% in 30 days, peaking at a 400% rally from $0.036 to $0.19 in late July before cooling off.
2. The rally was driven by the staking craze, Spark Farm's launch, and a shout-out from Coinbase CEO Brian Armstrong.
3. SPK's Total Value Locked (TVL) grew from $6.3 billion to $8.18 billion, reflecting strong network growth.
4. A buy signal on the Supertrend indicator suggests potential for further gains, but $0.12 must hold as support to sustain bullish momentum.
5. Failure to maintain key support levels could lead to a drop toward $0.11 or $0.09, while On-Balance Volume (OBV) must strengthen for a sustained recovery.
Description
Will Spark crypto sustain its August recovery attempt?
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