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- 🏆 Gate Wins “Best Crypto Exchange 2025”!
Gate has been awarded Best Crypto Exchange 2025 at the E-Business Awards by Entrepreneur Middle East, recognizing Gate’s achievements in security, compliance, and user trust.
Thank you to our global community — we’ll keep building a safer, more reliable crypto experience!
- Growth Points Round 1️⃣ 1️⃣ Summer Lucky Grand Draw is on fire!
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Collect just 2 fragments to easily redeem Gate merch—take your rewards home!
Ends on June 4th, 16:00 UTC. Try your luck now!
More info: https://www.gate.com/announcements/article/45185
- Earning Growth Points can win an iPhone 16?
Gate Post Growth Points Summer Lucky Draw Round 1️⃣ 1️⃣ Is Live!
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SPX6900 (SPX) Breaking Out Key Bullish Pattern– Can it Make a Bounce Back?
Date: Sat, May 24, 2025 | 08:50 AM GMT The cryptocurrency market is experiencing a mild pullback after a strong week of gains. Bitcoin (BTC) reached a new all-time high of $111,970, while Ethereum (ETH) surged as high as $2,700 before easing down to $108,000 and $2,550 respectively. Despite this mini pullback, the memecoin SPX6900 (SPX) is showing strength today after making an impressive 73% monthly rally, and it is now attempting a breakout from a key bullish formation.
Source: Coinmarketcap Breaking Out Cup and Handle Pattern On the daily chart, SPX is displaying a textbook Cup and Handle pattern — a formation often seen at the start of major bullish trends. The “cup” portion formed between late February and early May, starting with a sharp rejection at $0.87 before carving out a rounded bottom at $0.4066. Since then, SPX has gradually pushed higher, pulling back slightly into the “handle” around $0.63 where it found support — a common technical behavior in this setup.
SPX6900 (SPX) Daily Chart/Coinsprobe (Source: Tradingview) Now, SPX is once again testing its neckline resistance between $0.79 and $0.87, a zone that has acted as a ceiling on several occasions. As of this writing, the token is trading at $0.85 — right at the heart of the resistance range — putting bulls on high alert for a breakout. What’s Next for SPX? A decisive move above the $0.87 level, especially if followed by a successful retest, would confirm the Cup and Handle breakout. This would likely ignite strong bullish momentum and could propel SPX toward higher resistance levels. The immediate upside target following a breakout sits around $1.12, but if the full technical pattern plays out, the projected target is near $1.49 — offering a potential 74% rally from current levels. However, broader market sentiment still plays a major role. Ethereum hovering near the $2,550 mark is a key factor. If ETH regains its footing and resumes its climb past $2,700, it could spark another leg up for memecoins like SPX. Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.