SpaceX (Nasdaq: Spex) stock It could rise back to a record high near $225 if it breaks above a key resistance level, according to new technical analysis of the company’s 10-minute chart.
Analysis shared by Ali Martinez in X mail On June 21, the price identified $192.55 as a critical level for the next major move. A decisive close above this price would negate the current short-term weakness and open the way towards the stock’s all-time high of $225.61.
Expectations are coming SpaceX shares fell From a post-IPO rally, the stock is currently trading around $185 after a strong debut that briefly pushed its market value above $2 trillion.
Notably, the stock is trading in a downward channel after reaching a record high near $225.61. After rising, SPCX encountered resistance at the upper border of the channel and entered a corrective phase.
SPCX shares came under selling pressure
According to the analysis, the recent rejection near $192.55 indicates that short-term selling pressure remains. However, this level became the main trigger point for bulls.
A successful break above $192.55 would signal renewed bullish momentum and possibly move SpaceX stock back towards its previous peak around $225.61.
If SpaceX fails to regain resistance, the stock may continue to cool down within the channel.
The first major downside target is near $172.11, which represents medium-term support for the channel. A deeper correction could take shares back to the lower end of the trend channel around $157.56.
The analyst noted that structural demand remains stronger near the channel floor, making $157.56 the key level to watch if selling pressures intensify.
In fact, SpaceX was the hottest name on Wall Street after raising nearly $75 billion in its initial public offering at $135 per share, targeting a valuation of about $1.75 trillion.
The rally was supported by Investor Optimism surrounding Starlink’s growth, the company’s dominance in commercial space launches, government contracts, and the expansion of artificial intelligence initiatives.
However, the stock has seen significant volatility since its debut. Profit-taking, limited public float, and concerns about valuation have contributed to sharp volatility in recent sessions.
Despite the pullback, the latest forecasts suggest that SpaceX remains within a broader uptrend.
