The price of Spark recovered on Friday, July 25, while the supply of his tokens at trade fairs, the total value locked and the integration with Thena increased after its integration.
Summary
- Spark Price returned as the exchange rate Baldi fell to a record low.
- The token also jumped as the total value locked to $ 8 billion.
- Spark Network was also integrated on Thena.
The token price of Spark (SPK) rose by more than 15%and reached an intraday height of $ 0.1335. This rebound brought its market capitalization to almost $ 130 million.
Spark rebounds fall as exchange balance
The SPK token jumped on Friday when data from third parties showed that Exchange Reserves continued their downward trend, a sign that investors do not dump it. There are now 382 million tokens at trade fairs, a decrease of 613 million on Monday.
Additional information indicate that top investors have continued to collect the sparks. They now have more than 9.97 billion tokens, much higher than this week’s low point of 9.77 billion.
Furthermore, more spark holders move their tokens to their Stakpools. More than 136 million tokens with more than 3,400 users have been plotted, a figure that grows by the day.
The continuous accumulation is probably due to the basic principles, because Spark is one of the biggest players in decentralized financing. According to Defi Lama” The total locked value is more than $ 7.93 billion, which represents an increase of 26% in the last 30 days.
All parts of his things grow. The assets of the Spark Liquuidity Layer rose by $ 126 million to $ 4.4 billion, while the total value of the savings and the locking of the loans or $ 2.36 billion and $ 4.46 billion was $ 4.46 billion respectively.
This growth could continue after the company is mentioned in then, the third largest decentralized exchange on the BNB chain.
Yet there is a risk that the ongoing Spark Crypto Price Rebound is a dead cats strout. A DCB is a situation in which an active in a free fall temporarily bounces back if investors buy the dip just to resume the downward trend.
SPK Price Technical Analysis
The four-hour graph shows that the SPK price peaked at $ 0.1898 on July 23 and then on Thursday fell by 52% to a low of $ 0.09052. This decrease was probably due to the current crypto-crash and taking a profit after it had increased by more than 500% by more than 500% within a few days.
Spark Token fell to a low point of $ 0.09075, which was along the 61.8% Fibonacci retracement level. This retro point is also known as the golden ratio, as it is where most rebounds usually occur.
Spark Price also recovered after forming the Hammer Candlestick, which consists of a small body and a long lower shade. A hammer is one of the most popular bullish reversing patterns.
That is why the most likely scenario where Spark continues its rebound and reached the all-time high of $ 0.1898. A drop below the bottom of the hammer will confirm that this is a dead-cat stroking and leads to further disadvantage.
