Date: Wed, July 09 2025 | 06:06 AM GMT
As Q3 kicks off, the cryptocurrency market is continuing its strong bullish momentum carried over from Q2. Ethereum (ETH), a market leader, is now trading near $2,625 with a solid 7% gain over the past week. Riding this optimism, many memecoins are showing strength — and one of the top contenders flashing a bullish setup today is SPX6900 (SPX).
SPX has surged over 15% in the last 24 hours, extending its weekly gains to more than 16%. But what’s really catching traders’ attention isn’t just the numbers — it’s the clean breakout from a classic bullish pattern that could fuel a much bigger move ahead.
Ascending Triangle Breakout in Play
Looking at the 4-hour chart, SPX had been consolidating within an ascending triangle pattern since June 20. The token made several higher lows while facing consistent resistance around the $1.38 level, forming the hallmark flat top of the triangle.
This morning, SPX finally broke above this key resistance zone, climbing sharply from the 100-period moving average support area near $1.22. The bullish breakout pushed the price all the way to $1.44 — its highest level in weeks.
What’s Next for SPX?
From the current price of $1.42, SPX may undergo a retest of the breakout level around $1.38 to confirm it as new support. If this retest is successful, the technical breakout target sits at approximately $1.86 — a potential gain of over 30% from current levels.
However, if the price fails to hold above the breakout zone and drops back below the ascending triangle, the bullish setup could be invalidated. In that case, SPX might revisit support trendline once again.
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