Price Position and Structural State
Spell Token (SPELL) closed at 0.0000855 USDT on August 27, 2026, down 0.93%. The asset now sits in a sideways structure near the bottom of its 55-day range. Current 55-day support is near 0.0000751 USDT, with resistance near 0.000118 USDT. A daily close below 0.0000751 USDT would confirm a downside regime shift. A hold near support would keep price inside the range.
Moving Averages and Trend Context
SPELL is trading inside a zone of moving-average confluence. MA9 at 0.0000854 USDT sits just below price, while MA100 at 0.0001031 USDT sits just above. The compression across multiple moving averages signals range contraction rather than trend dominance. The next meaningful read comes from price separating cleanly from this cluster.
Trading Friction and Price Efficiency
SPELL shows high trading friction, with a 3-day friction score of 33.1. The score combines price progress, wick rejection, and volume confirmation. Recent candles show contested movement, with weak price progress or heavier wick rejection. In this condition, moves near support or resistance carry less weight until price closes more cleanly.
Open Interest, Funding, and Positioning
Open interest increased +8.10% in one day, showing fresh leverage entering the market. OI sits near the middle of its 60-day range, so the move adds leverage from a normal base rather than from a stretched one.
Funding is positive on the 24-hour average at +0.010000%, while the 7-day average is -0.000930%. This shows fresh long-side cost pressure rather than a sustained build across the week.
The long/short ratio is 2.39, showing more long accounts than short accounts. It sits near the middle of its 60-day range, so this is a long tilt without clear historical crowding.
Correlation, Beta, and Index Relationship
SPELL shows a moderate relationship with the broader crypto market (Sigloid Index). Correlation indicates partial co-movement with the index, while R² suggests that index behavior explains only part of its movement. This means broader market direction has some influence, but asset-specific factors remain important. Over the 30-day window, the relationship is stable. Over the 60-day window, the relationship is stable. Over the 180-day window, the relationship is stable.
| Window | Correlation | Beta | R² | Read |
|---|---|---|---|---|
| 30D | 0.669 | 0.649 | 0.448 | Strong, lower beta |
| 60D | 0.368 | 0.6 | 0.135 | Moderate linkage |
| 180D | 0.526 | 0.635 | 0.276 | Moderate linkage |
Momentum, Volatility, and Indicator Pressure
SPELL's bands are opening, but the move still lacks full support. Bollinger Band width% reads 20.89, near the lower side of its full historical range. ATR% reads 5.90, near the lower side of its full historical range. 20-day Volume Z-score is -0.19, showing near-normal participation.
Momentum is stronger. RSI is 55.44, ROC14 is +9.76%, and MACD histogram is positive. These readings point in the same direction: upside pressure is active across momentum and multi-day acceleration.
The read is still incomplete: momentum is improving, but volatility or participation has not confirmed the move strongly enough.
Broader Market Regime
The Sigloid Index remains in a bullish regime, showing broad strength across the market. SPELL has a moderate link to that market condition, so market strength can still influence price behavior, while asset specific factors also matter.
Key Levels for the Next State Change
For SPELL, the next structural shift depends on range boundaries. A daily close above 55-day resistance at 0.000118 USDT establishes a bullish regime, while a daily close below 55-day support at 0.0000751 USDT confirms a bearish regime.