- The Spell token price has surpassed the 20-day EMA with volume.
- SPELL crypto price has surged by 167% in the last 2 months.
The Spell token price has witnessed selling pressure in a broader time frame, but buyers dominate in the short term. Since February, the Spell price has risen by 171% and recorded a 52-week high of $0.00189 on March 02, 2024. Spell token price prediction suggests it may remain bullish for the next few months.
For the last three times, the Spell token price has been facing resistance from the $0.00150 hurdle. The price has faced resistance from the $0.00150 mark and declined by 14% in the last 2 days.
Spell token crypto price is trading at $0.00128, which has declined by 1.78% in the last 24 hours. The market capitalization is $137.86 million, and the fully diluted market cap is $251.66 million. The current trading volume is $25.90, which has dropped by 75% in the last 24 hours.
Spell Toke Crypto Price vs Volume Analysis
According to the graph of price and volume, the trading volume has declined from $433 million to 25.91 million this month, which has affected the Spell price negatively. In the last two days, the trading volume was pumped by approximately 700%, but it was dumped again, and the price jumped by 24%. Suppose the trading volume shows massive changes, and then the Spell token price may approach a 52-week high.
Whales Holdings
The whales’ holdings have increased by 2% in a year, affecting the price positively. According to the current holdings, the whales hold $325.77 billion, investors hold $40.49 billion, and retailers hold $14.95 billion. The change in the whales’ holdings can affect the Spell token price.
Will Spell Token Price Extend to the $0.00200 Mark Soon?
The Spell token price has been bullish in a daily time frame, continuously facing rejection from the $0.00150 mark. The price has surpassed the 20-day exponential moving average, but sellers seem to be strong, and the price has declined by 14%.
If the Spell token price rises and surpasses the resistance level of $0.00150 and sustains, then buyers may show interest, and buying momentum for the short term can be expected. If the chart structure attracts investors, the Spell token price may perform positively in the long term.
On the other hand, if the Spell crypto price slips below the 20-day EMA, sellers may look for the 200-day EMA. Suppose the SPELL price fails to defend the 200-day exponential moving average; investors may prefer to book profit, leading to a bearish trend.
Based on the technical levels, the Spell token price is trading over the significant moving average, which showcases the bullish trend. The RSI is at 52, which seems to slip below the RSI-based moving average and heading toward the oversold zone, indicating the bears’ participation.
Conclusion
Spell token price has been quite volatile recently, with a lot of fluctuation in trading volume and price movements. The current resistance levels and the behavior of whales’ holdings are important factors to consider when predicting future price movement. It will be interesting to see if the price can surpass the resistance level and sustain the bullish trend in the long term. Technical indicators suggest a bullish trend, but the RSI slipping below the RSI-based moving average is something to watch out for.
Technical Levels
Resistance: $0.00150 & $0.00180
Support: $0.00100 & $0.00075
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.