SPX Reaches All-Time High, Targets $1.90 as Rally Shows No Signs of Slowing Down

Since its launch in October 2024, SPX has garnered a lot of attention. After a 1,000% surge in less than two weeks, SPX underwent a correction before rebounding in December.

Key Takeaways

SPX has garnered a lot of attention since its launch in October 2024.

After a 1,000% surge in less than two weeks, SPX underwent a correction before rebounding in December.

Fast forward to 2025, and SPX has once again captured the market’s imagination, hitting a new all-time high of $1.57 on Jan. 6.

With a 75% gain since the start of the year, the buzz surrounding SPX is undeniable. But the question on everyone’s mind: how much longer will this rally continue?

SPX Reaches All-Time High

SPX had a hard time breaking through the $0.90 resistance level for most of 2024, being rejected multiple times.

However, on Jan. 2, 2025, SPX finally surged past this barrier, marking a decisive breakout and sending the price soaring by 60% in just a few days. This move has reinforced the idea that the rally could be far from over.

In technical terms, SPX’s breakout from an ascending parallel channel indicates that the current price movement is likely impulsive rather than a short-term spike.

Moreover, key indicators such as the Relative Strength Index (RSI) and the Moving Average Convergence/Divergence (MACD) remain bullish, even though they show signs of being overbought. No bearish divergence has yet been spotted, suggesting that the uptrend could persist.

SPX Targets $1.90

The SPX price reached a new all-time high on Jan. 6. Even though indicators give overbought readings, its wave count and price action suggest the rally will continue toward at least $1.89 before a major correction.