SPX (SPX6900) is currently trading at $1.58, reflecting a 24-hour decline of 4.42%. The daily trading range has been relatively tight, with a high of $1.71 and a low matching the current price, indicating diminished volatility and potential selling pressure.

Volume has reached approximately 87.93 million, translating to a volume-to-market cap ratio of 5.99%. This suggests that while there is significant trading activity, it may not be sufficient to drive a price recovery given the recent downturn.

The short-term moving averages are all indicating downward trends, with the 8 SMA at $1.66 showing a 4.71% decline, and the 13 and 21 SMAs also reflecting negative momentum. However, the 55 SMA at $1.57 has begun to show slight upward movement (+0.59%), which may hint at a potential support level forming.

The 1-hour RSI at 41 indicates that SPX is approaching oversold territory, which may lead to a price rebound in the short term. Conversely, the 7-day RSI at 58 suggests that momentum is still relatively healthy, albeit waning, as it approaches the neutral level.

Over the last 7 days, SPX has shown a price increase of 29.00%, and 32.85% over the last 14 days, indicating a positive trend in the medium term. However, the 30-day price change of -5.59% raises concerns about sustainability, suggesting that recent gains may be under threat.

The all-time high of $1.73 reached on June 11, 2025, remains a key resistance level, and the current price action indicates a struggle to maintain upward momentum. A break below the 55 SMA at $1.57 could signal further downside risk.

Given the current technical indicators and the recent price action, the recommendation for SPX is to Hold. The potential for a short-term rebound exists, but the overall trend appears bearish, and caution is warranted until clearer bullish signals emerge.