After a sharp drop, SPOT is showing early signs of reversal at a key anchored VWAP support zone. The intraday bounce occurred on low volume, which may indicate seller exhaustion rather than aggressive dip-buying.
Price is holding near the blue VWAP anchored from the April low, a level that previously acted as dynamic support. Although today’s bounce lacks volume strength (3.53M vs. 2.28M MA), the selling pressure appears to be cooling off.
If SPOT can reclaim $665–670 in the coming sessions with improving volume, a recovery toward $700+ is possible. However, failure to hold above $640 may resume downside momentum.
Indicators used:
Anchored VWAP (support holding from prior pivot)
Volume (low, signaling possible seller fatigue)
Price structure (early reversal after steep correction)
Entry idea: Watch for reclaim of $665
Target: $700–715
Stop: Below $638 or new low
Price is holding near the blue VWAP anchored from the April low, a level that previously acted as dynamic support. Although today’s bounce lacks volume strength (3.53M vs. 2.28M MA), the selling pressure appears to be cooling off.
If SPOT can reclaim $665–670 in the coming sessions with improving volume, a recovery toward $700+ is possible. However, failure to hold above $640 may resume downside momentum.
Indicators used:
Anchored VWAP (support holding from prior pivot)
Volume (low, signaling possible seller fatigue)
Price structure (early reversal after steep correction)
Entry idea: Watch for reclaim of $665
Target: $700–715
Stop: Below $638 or new low
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