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Crypto_Mario_ ₿. ⧉ 🧡 🅑 🟧 ⓑ @Crypto_Mario_B on x 3526 followers
Created: 2025-07-13 16:48:16 UTC
📊 $SPY – Grinding to New Highs but Approaching Exhaustion Zone The $SPDR S&P XXX ETF $SPY continues its powerful uptrend, tagging fresh highs, but price is now approaching a confluence of macro resistance zones marked by historical supply, trend exhaustion, and overextended technicals.
📈 Technical Overview: •Current Price: $XXXXXX •🔻 Daily Change: –0.35% •Volume: 63.67M • ✅ Trend: Strong bullish structure — above all major moving averages •🟥 Multiple rejection zones lie between $626–$630, marked by red arrows •🔼 Recent breakout above $XXX confirms bullish momentum continuation
📌 Key Resistance Zones: •$626.87 → Current high and possible short-term blow-off top •$630.00 → Psychological & macro trendline resistance •Above that: price enters blue-sky breakout territory 📉 Support Levels to Watch: •$611.52 / $XXXXXX → Former resistance now acting as support •$605.24 / $XXXXXX → Volume node + prior base •$593.51 → 50-day moving average •$582–$577 → Demand zone and breakout base
🧠 Analyst Insight: •While price action is bullish, volume is tapering off and price is nearing overextended levels •Watch for potential bearish divergence or topping pattern near $XXX •A pullback to $600–$611 would be healthy and expected in strong uptrends
📌 Summary: $SPY remains in strong uptrend territory, but caution is warranted as it trades into a heavy resistance area. Breakout above $XXX with confirmation could fuel another leg higher — otherwise, a cooling move toward $XXX support is likely.
📈 #SPY #SNP500 #TechnicalAnalysis #ETFs #MarketUpdate #StockMarket #BreakoutWatch #TrendAnalysis
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