SPX6900 (SPX) Poised for Further Downside – Technical Analysis Reveals Key Breakdown

The memecoin, SPX6900 (SPX), has experienced a significant surge of 48% over the past week. However, recent technical analysis reveals early signs of a potential pullback as SPX breaks below its key support level. The coin’s lower-time-frame structure suggests a downward trend might be on the horizon. A double top formation observed on the 1-hour chart has triggered a bearish reversal pattern, leading to a breakdown below the neckline.