SPS Market Analysis Apr 11 – Apr 17 2025 | Splinterlands #433

Another week has gone by, and Trump's tariff saga continues to drag on. BTC held steady this past week, trading just below $85k, while ETH has slid below $1.6k. Trump signed a bill scrapping a Biden-era crypto tax rule, a win for the industry, but China's retaliatory 125% tariffs on U.S. goods kept markets cautious. Coinbase reported altcoin market caps have decreased 41% from December's $1.6 trillion high, now sitting at $950 billion. The DOJ's crypto enforcement team closure signals a friendlier regulatory stance, but US Democrats are pushing back, citing fraud risks.

Amidst all this turbulence, SPS has continued the positive sentiment as discussed in last week's blog, posting some serious gains over the past week.

SPS Weekly Performance Overview

Source

SPS skyrocketed this week, jumping from $0.00800643 on April 11 to $0.01321183 by April 17 - a 70.6% surge in seven days. It hit a high of $0.01352, with trading volume spiking to $296232 on April 17, up from a daily average of $208084. Market cap soared to $6.1m by week's end, nearly doubling from $3.9m. The Conclave Arcana presale hype has a huge part to play in this price action, and the momentum feels unstoppable, but is it sustainable?

Market Analysis - Trends

While BTC and other altcoin majors continue to struggle, SPS has laughed in the face of the entire crypto market. Last week's 15.8% gain was good, but this week's 70% gain is a statement. The splinterlands community is too busy losing it over Conclave Arcana. Everywhere I look on YouTube and X are content creators hyping up the presale, and most are expecting DEC to hit its peg and trigger massive SPS burns. The SPS price action is almost surely due to the hype and FOMO around the Conclave Arcana presale. However, the big question is whether it is enough for new players to flood in and push prices higher. This SPS pump feels like the existing player base pumping the SPS price in anticipation and essentially betting that new players will flow in. If the presale delivers and exceeds expectations, we could see more green candles, but I am all about long-term sustainability, and the question remains -- where are the new player signups?

Market Analysis - Volumes & Liquidity

Trading volume averaged $208084 daily, a big jump from last week's $87345, with a peak of $296232 on April 17. I have been saying for months that SPS needs consistent $100k+ daily volumes for a real rally, and finally, the past week through which we have blown. The volume surge ties directly to Conclave Arcana hype. If the splinterlands team markets this set and attracts new blood, we could see volumes staying in this zone and maybe even surpassing $300k+ daily.

Market Analysis - Key Support & Resistance Levels

SPS broke last week's $0.008 resistance and soared past $0.013 by April 17. The $0.008 level, once a ceiling, is now solid support with $0.0075 below it another floor if things price action starts to die down. With this breakout, $0.014 is the next resistance; a close above it with $200k+ daily volumes could push SPS toward $0.015 or beyond. If tariffs resurface and BTC goes below $80k, SPS may retest $0.011, but the charts and price action are very bullish.

Concluding Thoughts

SPS just moonshotted 70% the past week while the rest of the crypto markets continue to suffer. Conclave Arcana's presale is causing some serious FOMO in the splinterlands community. I'm torn as I love to see SPS continue to flourish, but am concerned that the SPS price action is driven by the existing player base and there will come a time when the tap starts to run dry and without a stream of new players signups, we could see the rally stall once Conclave Arcana goes live.

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