SPX rallies on 935K whale buys, but is the market top already here?

Key Disruption

Whales will add more than 935k SPX after the stuffed prices, discard a strong living room. But the bullying of your profit and exchange salment can limit, especially as RSI pryresward and netflows Hint in Intended.

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SPX6900 [SPX] Surged 15,64% in the last 24 hours, redeeming the support of $ 1,65 and hit a high of $ 2,0278.

In the same period, the memeic captain has shot 14.77% $ 1.86 billion as commercial volume has skipped 88 million capital, reflecting the most

But what is behind the price uptick?

Whale diving in back

Interesting, when SPX6900 siped $ 1.6 horny Balen in the market to defend support and also buy the mirgic tap.

The Nansen Data show Top 100 Headlights 7.17%, lifting total holdings to 681.42 million SPX, equivalent to the total supply.

July 26, the blanks spx bought 1.34 million tokens while only cleared 413.7k tokens. As a result, change in balance balance remained positive with 935.5k tokens, a clear abdomal accumulation of accumulation aggressive.

When whales turn the accumulation, signs the conviction stays in the market as an early progress.

But the sale pressure is building

At the same time, profit-taken in place.

Vintage Public from Cartyze cars Vivies (SPX) Volume OUTPACED, at 890k Spx Craft, Possible to a sign-a signal beuscella

Nansen data confirms this tendency, showing exchange balances 14.56% to 170.24 million SPX, whereas the exchange that admits the tokens were moved.

Netflow data has highlighted a two-day strip of positive influences.

In picture time, netflow was $ 53k, fall from $ 2,2 million day before. Reduction assistance at some SLOW MOMENT, but generally suggested remains of salvation pressure.

The balicients historically, growing and profit – take the price of price in the price spx.

Mixed signal techniques

According to ambcrypto’s analysis, SPX6900 sank as whales run in the market to accumulate.

Therefore, the relative index relative (RSI) source of 57 to 66, at the picture time, doing a crossover to a bullish. At the same time, Rsichastic Rsi Roses from 31 to 35, and is near to bulish crossword.

A crossover in bullish here will valid the strength of the riot and confirm their potential to continue.

These indicators show improve the question – but there is a catch.

If the time burnish continues, SPX could result in $ 2.05 and target $ 2,10 next. But if the sellers of sellers, a refusal could send the price again to the area of $ 1,63.