SPCX Technicals Flag Drop to $100 by Mid-August After 28% Slide

SpaceX shares face renewed downside pressure following a sharp post-IPO cooldown. After surging from the $135 IPO price to a June 16 peak of $225.64 and briefly exceeding $2.5 trillion in market cap, SPCX has fallen more than 28% and broken below a key Fibonacci retracement. The latest technical analysis warns the stock could test $150 near-term support before sliding toward an accumulation zone of $135–$113 by mid-August. Despite intense derivatives volume exceeding $800 million daily on MEXC and multiple single-stock ETFs launching, sentiment has shifted from euphoria to profit-taking and valuation concerns.