Spark (SPK) Price Prediction: Total Lock-up Position Value Soars, Support Rebound, Breaking Key Trend Line Aiming for $0.10

Spark (SPK) has surged dramatically over the past week, driven by a breakout from a symmetrical triangle. As of today (23), during the early Asian session, the SPK price is reported at 0.09 USD, with a daily increase of over 55%. The total lock-up position (TVL) of Spark has skyrocketed to 8.15 billion USD, indicating increased user interest and capital inflow. If the accumulation continues, the target price for SPK could be 0.10 USD.

The native token SPK of the decentralized finance (DeFi) platform Spark has surged by 100% in the past seven days. Following this, the price of Spark cryptocurrency is currently 17% away from returning to its all-time high.

The following are the factors driving price recovery and the possible development trends for altcoins.

SPK daily chart shows significant buying pressure

Observing the SPK daily chart, it can be seen that after the bulls successfully pushed the SPK price above the symmetrical triangle, a breakout occurred.

From June 29 to July 18, SPK formed a series of lower highs, outlining the upper trend line (resistance level) of a triangle.

At the same time, the downward trend line (support level) is formed by a series of higher lows and converges with the resistance level.

This setup led to narrow price fluctuations, and eventually SPK broke through the upper boundary of the triangle. As a result, SPK broke through the resistance level of 0.044 dollars while maintaining the support level of 0.029 dollars.

As of the writing of this article, the Chaikin Money Flow (CMF) indicator has risen above the zero signal line. The rise in the CMF indicator indicates significant buying pressure.

Similar to the CMF indicator, the Bull-Bear Power (BBP) reading shows that the buying strength is greater than the selling strength. If this trend continues, the price of SPK may break through $0.066.

(Source: Trading View)

TVL pump supports rebound

In this breakthrough, DeFiLlama's data shows that Spark's total lock-up position (TVL) has soared to 8.15 billion USD.

The rise in TVL usually indicates that more and more users are putting funds into the platform, whether for staking, lending, or yield farming. This influx of value reflects the growing trust in the Spark ecosystem and suggests that user activity is on the rise.

From a price perspective, an increase in TVL is usually a bullish signal, as it indicates deeper liquidity, stronger protocol fundamentals, and potential revenue growth—all of which can drive demand for the native token.

(Source: DefiLlama)

SPK Price Analysis: Path Open to $0.10

From a technical perspective once again, the daily chart shows that SPK has broken through the upper trend line of the descending triangle. This altcoin has also surpassed the 20-day Exponential Moving Average (EMA).

Breaking through the EMA indicates that the cryptocurrency has gained strong support. If this continues, the price of SPK may reach a peak, as shown in the diagram, reaching $0.073.

Once this situation occurs, the next target price for SPK will be around $0.10, which could set a new historical high. However, if selling pressure increases, bears may pull SPK below the 20-day moving average (blue).

(Source: Trading View)