SPS Market Analysis Apr 04 – Apr 10 2025 | Splinterlands #431

The crypto markets endured another volatile week as Trump's tariff policies continued to dominate the centre stage. BTC slide from $81k to a low of $74k on April 7 -- its lowest since before the US presidential elections, before recovering to $82k after Trump paused some tariffs for 90 days. Altcoins weren't spared with Eth taking a beating dropping almost 11.5% to $1.45k territory then rebounding above $1.5k after the pausing of tariffs. TradFi and crypto stocks weren't spared from this chaos, with almost $3 trillion being wiped out, and then rebounding on the news of the pausing of tariffs.

On the regulatory front, the SEC confirmed Paul Atkins as its new pro-crypto chair which is good for the long-term stance of crypto in the regulatory space. The National Crypto Enforcement has been disbanded (focusing on crimes like scams and terrorism financing), citing Trump's executive order prioritizing crypto. Amid this chaos, SPS defied the crypto market's downward spirals and showing strong performance. Let's dive into the numbers.

SPS Weekly Performance Overview

Source

SPS has been impressive this week, starting at $0.00691643 on April 4 and closing at $0.00800643 on April 10 and securing a 15.8% gain over the seven days. Amid the chaos happening in the markets, SPS bucked the trend and stayed resilient. Market cap climbed steadily, reaching $3.8m, up from $3.3m on April 3. The momentum is undeniable, driven by the excitement over the upcoming Conclave Arcana presale.

Market Analysis - Trends

While the crypto markets continued bleeding, SPS didn't. Trump's tariffs had minimal impact on the FOMO and hype around the Conclave Arcana release. If you have a moment, go search the splinterlands tag on X and feel the community hype building around the new release and the game. Prominent splinterlands YouTuber, @Bulldog1205, released a new video claiming that SPS may moon during the Conclave Arcane presale phase. The hype is building and splinterlands tokens are benefitting with DEC and SPS climbing off the back of the hype.

Market Analysis - Volumes & Liquidity

Trading volume for SPS averaged $87345 daily this week, a slight dip from last week's $89796, with a high of $127835 on April 10. I've been saying SPS needs to sustain volumes above $100k daily to fuel a sustained rally, and we're not quite there yet, but the data is showing promising signs. Liquidity remains solid, and the volume uptick aligns with the Conclave Arcana hype. If Splinterlands leans into this hype with a strong marketing push, we could see volumes consistently break that $100k threshold soon.

Market Analysis - Key Support & Resistance Levels

SPS smashed through the $0.007 resistance I flagged last week, peaking at $0.00800643 on April 10. The $0.006 support zone held, even as the broader market tanked, and now acts as a solid support level. Also, $0.0065 is now serving as a support level to watch in this new range that SPS is trading in. With this breakout, $0.008 is the next resistance to watch; a close above it with volumes topping $100k daily could open the door to $0.009 or higher. For now, the chart looks bullish, and the Conclave Arcana presale could be the catalyst for a bigger move.

Concluding Thoughts

SPS shrugged off a brutal week for crypto, climbing 15.8% while BTC and the altcoin majors (ETH, XRP) got hammered by Trump's tariff. The Conclave Arcana presale is creating serious hype in the splinterlands ecosystem. If SPS continues to remain resilient and hold the $0.007 support level, BTC stabilizes above $80k, and SPS trading volumes continue to break above $100k -- all points to SPS continuing its rally.

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