Spell Price Prediction: 2024, 2025, 2030

SPELL price prediction: Key highlights

1. Primary support and resistance levels

• On the weekly chart, the lowest support level was observed at $0.0003.
• Meanwhile, $0.0075 can be anticipated to be the highest resistance for SPELL.

2. Market sentiment

• As of June 2024, the overall market sentiment is bullish.

3. Predictive forecasts

• Forecasts from AI/ML predictive algorithms estimate the average price of SPELL to reach $0.2 in 2031 and increase to over $4 in 2035.

Get expert insights on SPELL via a comprehensive weekly technical analysis, followed by the coming days of the month, upcoming months, and yearly forecast tables derived from our AI/ML-based predictive models:

SPELL technical analysis: Another bull run on the cards?

The Spell price prediction for 2024 has been shaped by a year of volatility and significant fluctuations in the token's market behavior, outlining the critical price movements.
 

At the beginning of the analysis period, SPELL was caught in a downtrend, as evidenced by its presence over its lowest support at $0.0003. A recovery attempt followed this drop.
 

Nonetheless, it was unsustainable, and SPELL slipped back to its lowest support by mid-August. After upholding this level to halt further declines, the bulls elevated the price to make new highs from September.

While the token faced setbacks during this modest uptrend, it did not plunge to its previous lows. Notably, the market turned green in February, with a massive bullish rally propelling SPELL above the critical $0.0010 mark to test the peak resistance at $0.0016 by month’s end. 
 

This spike was quickly followed by a strong corrective pullback triggered by the market’s overbuying spree. Consequently, the asset dipped below $0.0012 in mid-March. Subsequent tests of this support-turned-resistance faced strong rejection. 

The token lost all its February gains in April, falling as low as $0.0007. After stabilizing at this level for over a month, SPELL witnessed another rally. By late May, the token reclaimed $0.0010 while eyeing $0.0012. At press time, the altcoin exchanged hands at $0.0011.

Even with the recent downtick, this price represents an appreciation of more than 100% over the past year, as reported by CoinMarketCap. In the face of the recent bullish behavior, SPELL can likely flip $0.00012 to reclaim the peak resistance at $0.0016. Moreover, sustained optimism can push the token higher to touch $0.0075 by the end of the year. This level has not been tested since Q1 2022.
 

Contrastingly, if the bears break the current support, the price will revert to $0.0007. A fall below this level will turn the market decisively bearish, pushing the token to its lowest support.
 

Our predictive models envision an optimistic future for the cryptocurrency, with its average price going as high as $0.2 by 2031. This would significantly narrow the gap between SPELL reclaiming its all-time high (ATH). Moreover, the robust uptrend is expected to continue in the long run, with SPELL averaging above $4 in 2035.

SPELL's 2024 roadmap: Key indicators to watch and trade

• The trading volume remained low for most of the analysis. Intermittent spikes were observed coinciding with price pumps. However, these surges were not sustainable.
• The Chaikin Money Flow (CMF) started below the zero line. After briefly moving across this line in September and between late November and January, the indicator turned decisively positive by February.
• As the analysis ended, it registered at 0.21. This indicated that there was a substantial inflow of money into the asset.
• The Relative Strength Index (RSI) surged past the 50 line in late November only to retrace its steps back below by January. Like CMF, it moved above again in February and continued to rise. This ascension culminated in the indicator venturing into the overbought territory in mid-month.
• As the price faced rejection, the RSI also started declining. It fell below the 50 line in early May before reversing its trajectory to cross it again later in the month. At press time, it registered at 61.00. This highlighted a prominent bullish presence in the market.