🔷️ $SPCX has experienced a sharp correction after failing to hold the yellow support zones that previously acted as a strong base. The breakdown below multiple support levels triggered accelerated selling pressure, and price is now trading near the lower end of the recent range. 📉

From a technical perspective, the first thing I am watching is whether buyers can reclaim the nearest yellow resistance area. As long as price remains below those levels, the short-term structure favors caution. However, after such an aggressive decline, oversold conditions often lead to relief rallies and increased volatility. ⚡️
The green support zones below remain the major areas where long-term buyers could become more active if weakness continues. For now, the key question is whether this move was a capitulation event or the beginning of a larger trend continuation to the downside. 👀
Personally, I would prefer to see strength return above the yellow resistance levels before becoming more constructive on the chart. Until then, risk management remains critical as volatility is likely to stay elevated. 🎯
⚠️ Not financial advice.
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