Technical Analysis: SPELL/USDT at Thursday, July 23, 2026

Chart Analysis

Overall Trend

The overall trend on the 30-minute chart appears to be bearish, characterized by a series of lower highs and lower lows.

Price Action

The price action shows a general downtrend, with significant price drops observed recently. There was a sharp spike in price volatility around the 23rd of July, followed by a retracement. Currently, the price is consolidating, but with a bearish bias.

Moving Averages

The Exponential Moving Averages (EMA) for 20, 50, 100, and 200 periods are not explicitly plotted with lines on the visible chart area. However, based on the price action relative to the general trend, it's likely that the price is trading below these longer-term EMAs, reinforcing the bearish outlook.

RSI

The Relative Strength Index (RSI) 14 is not explicitly displayed with a line graph on the chart. However, the "RSI 14 close !" indicator suggests its presence. Without the actual RSI values, it's difficult to make a definitive conclusion, but given the price action, it may be in neutral to oversold territory, with potential for a bounce, but not a strong uptrend signal.

Volume Analysis

Volume bars at the bottom of the chart show several spikes, particularly around the sharp price movements. The spike on the 23rd of July shows significantly higher volume, coinciding with a price surge. However, in the recent periods, the volume appears to be relatively low, indicating a lack of strong conviction from either buyers or sellers to drive a significant trend.

Fundamental & Market Data Analysis

Market Cap

Market Cap: $16,114,660.67. This is a relatively small market capitalization, suggesting higher volatility and risk.

Price Performance

YTD: -66.05%
Last 60 Days: -46.41%
Last 90 Days: -48.44%
Last 7 Days: -3.29%
Last 24 Hours: +0.86%
Last 30 Days: -26.63%

Price performance is significantly negative across all longer timeframes, with a very minor positive change in the last 24 hours.

ATH (All-Time High)

ATH: $0.07514751 Below from ATH: 99.89% (meaning the current price is 99.89% lower than its ATH)

ATL (All-Time Low)

ATL: $0.000081972976 Above from ATL: 3.56% (meaning the current price is 3.56% higher than its ATL)

Trading Volume

Total Volume 24h: $10,209,505
Turnover 24h: 0.61598974
Total Volume 7d: $67,704,108
Turnover 7d: 0.58356035

Trading volumes are active, especially in the 24-hour period, but turnover fractions are moderate.

Outlook

Short-Term Outlook

The short-term outlook remains bearish. Despite a slight uptick in the last 24 hours, the price action on the 30-minute chart suggests continued downward pressure. The volume does not indicate strong buying interest to support a reversal.

Long-Term Outlook

The long-term outlook is also bearish, given the significant year-to-date and 90-day price drops. The token is trading very close to its all-time low, which could offer some support, but without fundamental catalysts or a broader market upturn, a sustained recovery is unlikely.

Strategy

Short-Term Strategy

Given the bearish trend, short-term traders might consider looking for shorting opportunities on any temporary bounces towards resistance levels. Entering long positions would require a clear break above key resistance with confirmation from volume and other indicators.

Long-Term Strategy

Long-term investors might consider accumulating SPELL if it shows strong signs of bouncing off its ATL with increasing volume and positive fundamental developments. However, given the current performance and broad market conditions, a cautious approach or waiting for a more defined bottom is advisable.

Key Levels to Watch

Resistance: The immediate resistance can be observed around the 0.0000830 mark, followed by 0.0000840 and potentially higher levels if momentum shifts.
Support: The All-Time Low (ATL) at approximately 0.00008197 is a critical support level. A break below this could lead to further significant price declines.

Technical Analysis: SPELL/USDT