Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnSquareMore
Is SPX6900 (SPX) Poised for a Breakout? Key Pattern Formation Suggests So!

Is SPX6900 (SPX) Poised for a Breakout? Key Pattern Formation Suggests So!

CoinsProbeCoinsProbe2025/11/09 11:48
By:Nilesh Hembade

Date: Sun, Nov 09, 2025 | 08:30 AM GMT

The cryptocurrency market continues to show strong performance across multiple altcoin sectors, and memecoins are beginning to join the momentum. Fartcoin (FARTCOIN) has gained 10 percent today, and SPX6900 (SPX) is also steaming up as its technical structure is now showing early signs of a potential bullish reversal. The latest price action is forming a key pattern on the chart that may set up an upside breakout in the sessions ahead.

Is SPX6900 (SPX) Poised for a Breakout? Key Pattern Formation Suggests So! image 0 Source: Coinmarketcap

Descending Broadening Wedge Pattern in Play

On the 4-hour chart, SPX has been trading inside a descending broadening wedge. This structure is known as a bullish reversal pattern that often forms during corrective phases and typically signals growing volatility followed by a breakout to the upside.

During the latest pullback, SPX retested the lower boundary of the wedge near $0.5977, a zone that has consistently acted as strong support. Buyers stepped in confidently at this level, initiating a rebound that lifted the price toward $0.6754, placing it very close to the wedge’s upper resistance trendline.

Is SPX6900 (SPX) Poised for a Breakout? Key Pattern Formation Suggests So! image 1 SPX6900 (SPX) 4H Chart/Coinsprobe (Source: Tradingview)

The tightening price action near this upper boundary reflects increasing momentum and rising breakout pressure.

What’s Next for SPX?

If buyers manage to push SPX above the upper wedge trendline and reclaim the 100 Moving Average positioned near $0.8695, the chart would confirm a bullish breakout. From there, the next technical target sits around $1.3123, which marks roughly a 94 percent potential upside from current levels.

If SPX faces rejection at the resistance zone, it may continue moving sideways inside the wedge. In that case, the $0.6042 region will act as the key short-term support to monitor.

For now, the overall technical structure appears constructive. With the descending broadening wedge intact and buyers defending critical support, SPX is shaping up for a meaningful breakout attempt, especially if broader market sentiment strengthens through November.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

Stellar News Today: C3.ai Faces AI Challenges While Stellar's Blockchain Thrives: Changing Currents in Technology

- C3.ai faces leadership turmoil, 54% stock drop, and legal claims over misleading growth statements amid $116.8M Q1 2026 net loss. - Stellar (XLM) gains traction with BRL stablecoin partnerships, tokenized energy projects, and 1B+ Q3 2025 transactions boosting institutional adoption. - Stellar's ecosystem expands via 37% developer growth, $562M RWA market, and IBM's integration of its security protocols for tokenized infrastructure. - Contrasting trajectories highlight shifting tech priorities: speculativ

Bitget-RWA2025/11/12 14:40
Stellar News Today: C3.ai Faces AI Challenges While Stellar's Blockchain Thrives: Changing Currents in Technology

Algorand Moves to Passwordless Security to Address Quantum Risks and Meet Regulatory Requirements

- Algorand launches passwordless login via Pera Wallet using FIDO2 standards to combat quantum threats and regulatory demands. - Industry trends show firms like AMI adopting post-quantum cryptography while Prisma AI develops AI-specific security tools. - Ledger explores NY IPO amid rising crypto storage demand, while BIO-key expands passwordless solutions in Middle East/Africa. - NIST/NCSC urge quantum-resistant algorithm migration, positioning passwordless tech as critical for financial/healthcare complia

Bitget-RWA2025/11/12 14:40
Algorand Moves to Passwordless Security to Address Quantum Risks and Meet Regulatory Requirements

Ethereum News Update: Connecting Crypto Enthusiasts and Card Game Fans: Funtico's EV2 Presale Transforms Web3 Entry

- Funtico launches EV2 presale, allocating 40% tokens to early buyers via crypto and credit cards. - EV2 blends sci-fi shooter mechanics with progression-driven gameplay, featuring five character classes and high-fidelity visuals. - Token deployed on Ethereum to leverage DeFi infrastructure, offering TICO bonuses for presale participants. - Flexible payments include ETH, USDT, BTC, and credit cards, incentivizing early adoption. - Phased rollout aims to build community engagement through tournaments and NF

Bitget-RWA2025/11/12 14:40
Ethereum News Update: Connecting Crypto Enthusiasts and Card Game Fans: Funtico's EV2 Presale Transforms Web3 Entry

XRP News Update: XRP ETF Approaches Debut While Profit-Taking Challenges $2.35 Support Level

- XRP's price surged 10% to $2.43 amid anticipation for its first spot ETF, with Canary's SEC filing signaling a potential Thursday launch. - Profit-taking by long-term holders spiked 240% since September, pushing daily realizations to $220M as prices retreated to $2.30. - Ripple's $125M SEC settlement and XRP Ledger's 99.999% uptime bolstered fundamentals, while a partnership with Mastercard/Gemini expands cross-border payment integration. - Competition from AI/meme tokens and liquidity shifts threaten XR

Bitget-RWA2025/11/12 14:40
XRP News Update: XRP ETF Approaches Debut While Profit-Taking Challenges $2.35 Support Level