Support Zone

The S&P 500 is approaching a pivotal technical test as seasonal weakness lines up with a possible Elliott Wave decline. A break below 7,638 could shift attention toward the 7,100–7,200 area, while a hold may keep the bullish case alive.

Platinum and copper have extended bullish breakouts into major resistance zones, while the dollar and palladium remain highly sensitive to daily closing levels. FXCOINZ examines the technical areas traders are watching as momentum, gaps and support zones shape the next move.

The S&P 500 is testing a rising trendline that has defined every pullback since the June 9 low, leaving traders focused on whether the short-term bullish structure can survive. A decisive break could shift attention toward 6,960–7,200, while a successful hold may keep the rebound path toward 7,580–7,740 alive.

Major cryptocurrencies fell as a global tech-stock selloff hit risk assets and pressured altcoins more than bitcoin. Traders are now watching Bitcoin’s historically important $50,000 to $60,000 zone for signs of buyer interest.

Bitcoin’s realized price sits near a level that has historically been lost in major bear markets before a cycle bottom formed. Whale cost bases now cluster in a tight range, highlighting a possible support zone.