{"id":503577,"date":"2025-06-21T01:30:04","date_gmt":"2025-06-20T20:00:04","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=503577"},"modified":"2025-06-20T14:11:46","modified_gmt":"2025-06-20T08:41:46","slug":"spxs-11-drop-is-this-the-calm-before-a-major-rebound","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/spxs-11-drop-is-this-the-calm-before-a-major-rebound\/","title":{"rendered":"SPX\u2019s 11% drop: Is this the calm before a major rebound?"},"content":{"rendered":"<ul class=\"ul1\">\n<li class=\"li1\"><em><span class=\"s2\">SPX has recorded a significant drop, with key indicators in both the derivative and spot markets turning negative.<\/span><\/em><\/li>\n<li class=\"li1\"><em><span class=\"s2\">Chart analysis of SPX hints at a possible price rebound.<\/span><\/em><\/li>\n<\/ul>\n<p class=\"p1\"><span class=\"s2\">Memecoin <a href=\"https:\/\/ambcrypto.com\/spx-pumps-12-on-binance-u-s-listing-plan-will-profit-taking-stall-the-rally\/\" target=\"_blank\" rel=\"noopener\">SPX6900 [SPX]<\/a> has experienced the most significant downturn in the market, with an approximate 11% loss.<\/span><\/p>\n<p class=\"p1\"><span class=\"s2\">Market analysis shows that spot and derivative traders have played a major role in this decline, following sustained selling\u2014particularly over the past 24 hours.<\/span><\/p>\n<p class=\"p1\"><span class=\"s2\">AMBCrypto\u2019s analysis shows that while downward pressure persists, SPX has strong long-term rally potential.<\/span><\/p>\n<h2 class=\"p3\"><span class=\"s3\">Derivative metrics confirm SPX bearish dominance<\/span><\/h2>\n<p class=\"p1\"><span class=\"s2\">There has been a notable bearish trend over the past few days, as a recent analysis of the Open Interest (OI) Weighted Funding Rate revealed.<\/span><\/p>\n<p class=\"p1\"><span class=\"s2\">As of writing, the OI Weighted Funding Rate has remained negative since the 17th of June\u2014a move last observed between the 15th and the 18th of April.<\/span><\/p>\n<figure id=\"attachment_503583\" aria-describedby=\"caption-attachment-503583\" style=\"width: 1361px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/06\/41F03134-2A8F-4C91-A9CC-957F0CF60061.png\"><img decoding=\"async\" class=\"size-full wp-image-503583\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/06\/41F03134-2A8F-4C91-A9CC-957F0CF60061.png\" alt=\"SPX open interest weighted funding rate. \" width=\"1361\" height=\"404\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/06\/41F03134-2A8F-4C91-A9CC-957F0CF60061.png 1361w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/06\/41F03134-2A8F-4C91-A9CC-957F0CF60061-300x89.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/06\/41F03134-2A8F-4C91-A9CC-957F0CF60061-1024x304.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/06\/41F03134-2A8F-4C91-A9CC-957F0CF60061-768x228.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/06\/41F03134-2A8F-4C91-A9CC-957F0CF60061-1200x356.png 1200w\" sizes=\"(max-width: 1361px) 100vw, 1361px\" \/><\/a><figcaption id=\"caption-attachment-503583\" class=\"wp-caption-text\">Source: CoinGlass<\/figcaption><\/figure>\n<p class=\"p1\"><span class=\"s2\">A considerable decline in this metric confirms bearish sentiment in the derivative market, as most unsettled contracts are from short traders selling the asset.<\/span><\/p>\n<p class=\"p1\"><span class=\"s2\">This suggests that despite the drop in Open Interest\u2014currently down 10% to $117 million, implying lower liquidity\u2014sellers have held their position in the market.<\/span><\/p>\n<h2 class=\"p3\"><span class=\"s3\">Bullish flag forms\u2014but support must hold<\/span><\/h2>\n<p class=\"p1\"><span class=\"s2\">At press time, SPX\u2019s trading volume had dropped by 41.45% in the past 24 hours to $270.92 million. <\/span><span class=\"s2\">A simultaneous decline in both trading volume and price indicates weakening momentum.<\/span><\/p>\n<p class=\"p1\"><span class=\"s2\">This weakening suggests that selling pressure may soon ease, and a bounce back could be imminent.<\/span><\/p>\n<p class=\"p1\"><span class=\"s2\">An analysis of SPX\u2019s price movement on the 4-hour chart reveals that the asset is trading within a bullish flag pattern and is currently in a consolidation phase.<\/span><\/p>\n<figure id=\"attachment_503582\" aria-describedby=\"caption-attachment-503582\" style=\"width: 1281px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/06\/997FC093-3622-4A79-BA0D-8DAFDE2CFF5A.png\"><img decoding=\"async\" class=\"size-full wp-image-503582\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/06\/997FC093-3622-4A79-BA0D-8DAFDE2CFF5A.png\" alt=\"SPX price chart. \" width=\"1281\" height=\"616\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/06\/997FC093-3622-4A79-BA0D-8DAFDE2CFF5A.png 1281w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/06\/997FC093-3622-4A79-BA0D-8DAFDE2CFF5A-300x144.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/06\/997FC093-3622-4A79-BA0D-8DAFDE2CFF5A-1024x492.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/06\/997FC093-3622-4A79-BA0D-8DAFDE2CFF5A-768x369.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/06\/997FC093-3622-4A79-BA0D-8DAFDE2CFF5A-1200x577.png 1200w\" sizes=\"(max-width: 1281px) 100vw, 1281px\" \/><\/a><figcaption id=\"caption-attachment-503582\" class=\"wp-caption-text\">Source: Trading View<\/figcaption><\/figure>\n<p class=\"p1\"><span class=\"s2\">Typically, a breakout from this phase leads to a significant rally. <\/span><span class=\"s2\">The bounce to the upside could occur soon, as the price currently rests on a minor support level within the channel at $1.29.<\/span><\/p>\n<p class=\"p1\"><span class=\"s2\">However, if this level fails to hold, SPX could fall to the lower boundary of the channel\u2014where it may stage a major rebound.<\/span><\/p>\n<h2 class=\"p3\"><span class=\"s3\">Traders attempt to exit, pressure mounts<\/span><\/h2>\n<p class=\"p1\"><span class=\"s2\">Spot market activity indicates that the current support level\u2014where SPX has made a slight rebound\u2014may soon be breached.<\/span><\/p>\n<p class=\"p1\"><span class=\"s2\">At the time of analysis, over $536,000 worth of SPX had been sold, adding further downward pressure and threatening a potential upward move.<\/span><\/p>\n<figure id=\"attachment_503581\" aria-describedby=\"caption-attachment-503581\" style=\"width: 1364px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/06\/AE7F964E-A54D-45B1-A1AD-451A140B1FEC.png\"><img decoding=\"async\" class=\"size-full wp-image-503581\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/06\/AE7F964E-A54D-45B1-A1AD-451A140B1FEC.png\" alt=\"SPX spot exchange netflow. \" width=\"1364\" height=\"399\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/06\/AE7F964E-A54D-45B1-A1AD-451A140B1FEC.png 1364w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/06\/AE7F964E-A54D-45B1-A1AD-451A140B1FEC-300x88.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/06\/AE7F964E-A54D-45B1-A1AD-451A140B1FEC-1024x300.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/06\/AE7F964E-A54D-45B1-A1AD-451A140B1FEC-768x225.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/06\/AE7F964E-A54D-45B1-A1AD-451A140B1FEC-1200x351.png 1200w\" sizes=\"(max-width: 1364px) 100vw, 1364px\" \/><\/a><figcaption id=\"caption-attachment-503581\" class=\"wp-caption-text\">Source: CoinGlass<\/figcaption><\/figure>\n<p class=\"p1\"><span class=\"s2\">This action comes amid declining confidence in the memecoin, as traders attempt to secure profits or minimize losses.<\/span><\/p>\n<p class=\"p1\"><span class=\"s2\">This is evident in the simultaneous sell-off and falling price. If this trend continues, SPX is likely to retest the channel\u2019s support level\u2014where a major rally could follow.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>SPX\u2019s sharp decline could reverse into a major rally.<\/p>\n","protected":false},"author":101,"featured_media":503593,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[31,66,3,4,20],"tags":[],"class_list":["post-503577","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-new-news","category-news","category-social","category-trading-view"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>SPX\u2019s 11% drop: Is this the calm before a major rebound? - AMBCrypto<\/title>\n<meta name=\"description\" content=\"SPX drops 11% as spot and derivative traders sell. 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