- After a sharp recovery since last week, the Spark price faced renewed selling pressure at $0.054 resistance, signaling a potential pullback ahead.
- Spark Protocol recorded approximately $2.4 billion in inflows since last week as capital flew away from Aave amid Kelp Dao exploit.
- According to Fibonacci retracement level, the $0.04 and $0.035 horizontal level stand as key pullback support for SPK
While a majority of major cryptocurrency struggles to drive a sustainable recovery amid geopolitical uncertainty and recent DeFi hack, Spark price emerged as a star performer for crypto investors. Within a week, the SPK price bounced from $0.022 to current trading value of $0.445, registering a gain of 102%. A primary catalyst for this surge was capital rotation away from AAVE to Sparklend, significantly boasting its network activity and trading volume. However, is the hack-driven rally over Spark price, or does the recovery have more to grow?
English (US)