SuperVerse Forms Bullish Pennant, Analyst Eyes 2x If SUPER Does This

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.

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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. 

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Rene Peters
Rene Peters

Rene Peters is editor-in-chief of CaptainAltcoin and is responsible for editorial planning and business development. After his training as an accountant, he studied diplomacy and economics and held various positions in one of the management consultancies and in couple of digital marketing agencies. He is particularly interested in the long-term implications of blockchain technology for politics, society and the economy.