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

DASH drops 7.15% in a day as several top executives offload shares through scheduled selling plans

- DoorDash (DASH) fell 7.15% on Nov 26, 2025, but rose 71.59% year-to-date amid insider sales by executives via Rule 10b5-1 plans. - CFO Ravi Inukonda and President Prabir Adarkar sold $2.7M and $4.6M of shares respectively, while analysts raised price targets to $260. - Institutional buyers like XTX Topco Ltd and Summit Global Investments added shares, reflecting ongoing confidence in DoorDash's international expansion and DashPass strategy. - Upcoming Q4 2025 earnings on Feb 10, 2026, will test market se

Bitget-RWA2025/11/27 03:44
DASH drops 7.15% in a day as several top executives offload shares through scheduled selling plans

XRP News Update: XRP ETFs See Inflows Soar While Prices Drop: The $628 Million Inflow Mystery

- XRP ETF inflows hit $164M daily as Bitwise, Grayscale, and Franklin Templeton drive institutional adoption, surpassing $628M total assets. - Ripple's 2025 SEC settlement and RLUSD stablecoin boosted confidence, but XRP's price fell below $2 amid whale sales of 200M tokens. - CME's XRP futures and NYSE Arca's ETF approvals signal growing institutional infrastructure, though 41.5% of XRP supply remains in loss positions. - XRP outperformed Bitcoin (+89% vs 3.6%) due to DeFi upgrades and cross-border utilit

Bitget-RWA2025/11/27 03:32

India’s legal framework poses significant obstacles to the enforcement of U.S. court judgments.

- U.S. courts face enforcement challenges in India as Byju Raveendran's $1.07B default judgment clashes with India's strict foreign judgment recognition rules under Section 13. - TCS must appeal a $194M trade secrets ruling from the U.S. Fifth Circuit, highlighting cross-border IP disputes' complexity in the global IT sector . - Binance refunds Alpha Points after a technical error in a token airdrop, emphasizing operational risks in blockchain-based reward systems. - Amber International reports 69.8% YoY a

Bitget-RWA2025/11/27 03:32
India’s legal framework poses significant obstacles to the enforcement of U.S. court judgments.

Bitcoin News Update: Bitcoin's Divergence from MAG7 Highlights a Shift Toward Scarcity-Focused Identity

- Bitcoin’s recent price drop and volatility warnings highlight market fragility amid diverging MAG7 correlations. - A historic $19B liquidation on October 10 marked Bitcoin’s decoupling from MAG7 tech stocks, reclassifying it as a scarcity-based hedge. - Low institutional adoption and 5% odds for MAG7 firms to hold Bitcoin in 2025 underscore limited macro support. - Trump’s growth forecasts lack Bitcoin tailwinds; CleanSpark’s AI pivot highlights crypto diversification. - Bitcoin’s future hinges on macroe

Bitget-RWA2025/11/27 03:32
Bitcoin News Update: Bitcoin's Divergence from MAG7 Highlights a Shift Toward Scarcity-Focused Identity