Spell Token Market Overview

• Spell Token traded in a bullish consolidation pattern on the 15-min chart, forming a potential breakout setup.
• A key resistance at $0.000575–0.000578 was tested twice, with volume confirming strength.
• Relative strength improved, with RSI moving out of oversold territory and MACD showing positive divergence.
• Volatility expanded in the last 6 hours, signaling increased market interest and momentum buildup.
• Fibonacci retracement levels suggest $0.000565–0.000568 as critical near-term support.

Spell Token (SPELLUSDT) opened at $0.0005585 on July 20 at 12:00 ET and closed at $0.0005727 on July 21 at 12:00 ET, with a high of $0.0005824 and a low of $0.0005493. The 24-hour volume was 1.17 billion units, and the total notional turnover was $674,572.

Structure & Formations

The 15-minute chart displayed a clear consolidation pattern between $0.000565 and $0.000575 for most of the 24-hour period. A bullish breakout began forming after 09:00 ET, with a strong candle at 15:30 ET (closing at $0.0005797) confirming the move. A bullish engulfing pattern emerged around 15:30 ET, and a tall bullish candle at 15:30 ET marked the turning point. Key support levels include $0.000565 and $0.000568, with resistance at $0.000575 and $0.000578.

Moving Averages

The 20-period and 50-period moving averages on the 15-minute chart are aligned closely above $0.000568, indicating a neutral to slightly bullish bias. On the daily chart, the 50-period MA is at $0.000569, while the 200-period MA sits at $0.000563, suggesting the price is consolidating near key long-term support and resistance levels.

MACD & RSI

The MACD showed a positive divergence with price in the last 4 hours, indicating growing bullish momentum. The RSI, after touching oversold territory around $0.000565, has risen steadily and is now in neutral-to-bullish territory (~55), suggesting the market is gaining confidence. No signs of overbought conditions have yet appeared.

Bollinger Bands

Volatility increased in the last 6 hours, with the Bollinger Bands expanding significantly. Price has been trading near the upper band in the last 4 hours, signaling strong bullish momentum. The recent move above the upper band may indicate a potential breakout, though confirmation is still pending.

Volume & Turnover

Volume surged in the 09:00–15:00 ET window, especially around 15:30 ET, when the price broke above $0.000575. The increase in volume was accompanied by higher turnover, indicating conviction in the upward move. There was no significant divergence between price and volume, suggesting the rally is supported by strong market participation.

Fibonacci Retracements

Applying Fibonacci to the recent 15-minute swing from $0.000565 to $0.0005797, key levels include 38.2% at $0.000572 and 61.8% at $0.000576. The price has tested and held above the 61.8% level, suggesting a possible continuation of the upward trend. On the daily chart, the 38.2% retracement of the larger move from $0.0005493 to $0.0005824 is at $0.000566, which has held as support.

Looking ahead, Spell Token appears to be in a consolidation-to-breakout phase, with strong momentum building on the 15-minute chart. The next 24 hours could see a test of the $0.000578–0.000582 resistance range. However, a pullback to test $0.000568–0.000570 could occur if volume does not confirm the bullish bias. Investors should remain cautious and watch for a potential reversal if the price fails to hold above $0.000575.