SPX6900 Price Analysis: Is a 40% Surge Possible?

SPX6900 Price Analysis: Is a 40% Surge Possible?

The formation of a potential cup-and-handle pattern with the return to February highs could see another leg up in the SPX6900 price rally, but not before a breather.

The SPX6900 appears to be topping out as buying pressure begins to show its cracks, an early sign that profit-taking and panic selling could soon kick in as latecomers become exit liquidity.

What goes up must come down. With the RSI now stalling at 81 after a spike, well above the 70 threshold considered overbought, a correction is likely to unfold in the near term.

This comes as the token faces stubborn resistance at the cup’s $1.75 neckline. If bulls fail to push through, this could mark a local top, giving way to a descending channel.

In that case, price would likely see a 40% retracement to the 0.5 Fibonacci level, a zone often viewed as a prime accumulation range and springboard for further upside.

From there, SPX could mount another upward move on stronger footing after a shakeout of weak hands.

Given this pushes a full breakout, the pattern predicts a 300% move from current prices to $6.65, aligned with the 4.236 Fib extension.

Still, if bulls push through $1.75 cleanly, the correction scenario could be invalidated altogether—a healthy pullback remains the more natural next step in the current structure.