According to crypto analyst Captain Faibik, the Superverse (SUPER) token appears set up for additional upside gains in the near future.
Faibik points to a bullish pennant formation SUPER has carved out on its 4-hour price chart. As we can see on the chart, Superverse surged over 300% in the last 30 days before consolidating in a tense triangle formation beneath the rally peak.
These pennant patterns typically precede powerful breakouts in the direction the asset was originally trending. For SUPER, that would imply more upside is in store.
With the token already up 13.48% in the last 24 hours to trade around $0.6111, Faibik sees the potential for another 2x move, which could drive SUPER’s price toward the $1.20 level. Breaking out of the pennant signals a resumption of upward momentum.
Doge2014 raises 500K in days celebrating Dogecoin. Make potentially big profits and get in on exclusive airdrop!
Show more +Strong trading volumes during yesterday’s surge lend credibility to the rally. In the last 24 hours, $35.8 million worth of SUPER has exchanged hands, pushing trading volume up by 84.82%. This signals significant engagement among market participants.
If Superverse manages to take out triangle resistance shortly, Faibik expects the SUPER technical support to swiftly challenge the upper end of its historical price range.
You may also be interested in:
- Why is Astar (ASTR) Price Up By 48%? Traders Cash In On This Major Exchange Listing
- Is Bitcoin Heading to $38K? Analyst Shares Insights On Why BTC Is at a Crucial Level
- Cryptocurrency Watchlist for the Week: Focusing on Cardano (ADA) and Rebel Satoshi
We recommend eToro
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy the trades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
