SPX surges 23% to new ATH: THESE levels will decide the memecoin’s next moves

Key Points

1. SPX hit a new all-time high after a $1.85 rally, with a 23% surge in early trading.

2. Spot market acquisitions totaled $1.47 million in 24 hours, while derivatives market Open Interest surged by $116.2 million (52.24% increase).

3. Bollinger Bands and RSI indicate a potential short-term decline, with SPX trading in the upper band and RSI suggesting a possible dip toward $1.58.

4. Despite short-term volatility, SPX remains in a broader bull run, ranking third on CoinMarketCap’s Altcoin 90-Day Index with a 295.68% gain.

5. Memecoins like SPX have outperformed the broader sector, which posted only an 11% gain over the past seven days.