SPX (SPX6900) rose 15.30% in the last 24 hours.

Gate News Bot message, July 17, according to CoinMarketCap data, as of the time of this report, SPX (SPX6900) is currently priced at $1.82, having risen 15.30% in the last 24 hours, reaching a high of $1.90 and a low of $1.43, with a 24-hour volume of $185 million. The current market capitalization is approximately $1.697 billion, an increase of $225 million compared to yesterday.

SPX6900 is a multi-chain token project with a total supply of 1 billion tokens and a circulating supply of 931 million tokens, having already burned 6.9069 million tokens (accounting for 6.9% of the total). The project achieves cross-chain functionality through the Wormhole protocol, supporting multiple public chains such as Ethereum, Solana, and Base. SPX6900 is positioned as "the people's stock market" and aims to provide a more inclusive market representation for the new generation of investors. The project also launched an NFT series called "Project AEON", which includes 3,333 unique Aeon characters.

Important news about SPX recently:

1️⃣ Bitcoin reaching a new all-time high drives a rebound in meme coins.

Bitcoin has broken through the descending channel pattern, reaching a new high of $112,040, which has boosted sentiment across the entire cryptocurrency market. As one of the representatives of meme coins, SPX6900 has seen a strong rebound due to the uplift in market sentiment.

2️⃣ SPX6900 continues to rise after the breakout of the ascending triangle

SPX6900 formed a rising triangle breakout on the 4-hour chart, soaring 9.47% on Wednesday, reaching the 78.6% Fibonacci retracement level of $1.5639. This technical pattern breakout provides SPX6900 with further upward momentum.

Technical indicators show strong rise momentum.

Technical indicators on the 4-hour chart support a rise trend, with the Relative Strength Index (RSI) entering the overbought area, and the Moving Average Convergence Divergence (MACD) showing a rising green histogram, indicating that trend momentum is strengthening.

From a technical perspective, if SPX6900 can break through the key resistance level of $1.5639 on the daily chart, it may further rise to the high of $1.7407 on June 11. However, investors should also be aware that if the price retraces from the 78.6% Fibonacci level, it may retest the supply zone at $1.35.

This message is not an investment advice; investors should be aware of market volatility risks.