Driven by the recovery in macro risk appetite and a technical breakout in Bitcoin, SPELL has seen a notable short-term sentiment rebound, with funds showing increased preference for low-priced altcoins. The 0.000158–0.000160 range currently constitutes effective support; if accompanied by increased trading volume and a breakout of the 0.000168 resistance, a secondary upward move could be expected. However, the overall moving average structure remains bearish, and the sustainability of the rebound requires further observation. It is advisable to focus on the continuation of momentum in mainstream assets and the volume-price resonance at SPELL’s key levels, exercise caution against chasing highs, and prioritize phased entry after firming support.

Recently, the easing of geopolitical tensions, combined with a hawkish stance from the Federal Reserve yet a restoration in risk asset sentiment, have triggered collective rebounds in both stock and crypto markets. As a high-beta asset, SPELL has gradually recovered from around 0.0001577 in early April to 0.0001671, reflecting an increased willingness among investors to pursue low-priced altcoins in the short term. Although overall trading volume remains below the mid-March peak, the revival of risk appetite has provided SPELL with sentiment-level support.

BitMart Research Weekly highlights easing US-Iran tensions and a hawkish shift in the Federal Reserve, driving a rebound in risk assets including crypto. US stocks, especially AI-related sectors, show strong recovery amid geopolitical risks. Inflation data signals potential upward pressure if oil prices stay high. Crypto markets follow US stocks with BTC and ETH leading, while altcoins remain volatile. Institutional inflows into Bitcoin ETFs and MicroStrategy’s increased BTC holdings indicate long-term confidence.

BitMart Research Institute Weekly Hotspot Analysis: US-Iran Easing Combined with Fed's Hawkish Shift, Crypto Market Follows Rebound to Form a Bottom

Bitcoin recently broke above $74,000, approaching the critical $75,000 level, which corresponds to the 100-day moving average and a negative gamma zone in derivatives. If Bitcoin successfully holds above this level, it will release volatility, potentially attracting more arbitrage and speculative funds. Historically, significant Bitcoin volatility often leads to short-term rallies in altcoins, and with SPELL currently at low levels showing high elasticity, there may be opportunities for a secondary upward move if mainstream assets continue their momentum.

On the daily chart, the 0.000158–0.000160 levels have been tested multiple times without being effectively breached, forming a clear support zone. Meanwhile, the 0.000165–0.000168 area acts as a recent resistance during market consolidation, with bulls needing increased trading volume to confirm a breakout and sustain the rebound. The overall moving averages are in bearish alignment, but the price stabilizing at the support area suggests limited short-term rebound room. It is recommended to closely monitor the interplay between volume and key price levels.

Spell

It’s not a given that the European Central Bank’s next move on interest rates will be a hike, according to Governing Council member Martins Kazaks.

Kazaks: Will not oppose bets on two interest rate hikes this year

Waller: Rapid resolution of the Middle East situation may allow for interest rate cuts later this year.

Waller: Overall PCE inflation year-over-year in March may reach 3.5%

The Federal Reserve's Waller expressed caution regarding interest rates, warning of the risks of prolonged warfare.

Fed's Daly: Rates May Remain Unchanged

Daly: The federal funds rate is slightly above the neutral level of 3%.

UBS Expects 50 bps Fed Rate Cuts as Gov Miran Downplays Inflation Risks

Federal Reserve's Daly: On hold regarding interest rates.

Easing tensions in the Middle East combined with rising expectations of interest rate cuts have pushed gold close to $4,900.

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Spell Price: SPELL Live Price Today | SPELL Market Cap & Chart Analysis | Bybit-eu

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SPELL price today is 0.00, with a live price change of 7.33 in the last 24 hours. Convert, buy, sell and trade SPELL on Bybit-eu.

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