The SUPRA/USDT daily chart highlights a textbook bullish reversal setup, marked by a well-defined falling wedge. Importantly, the extended downtrend within the wedge should not be seen as weakness — rather, it reflects a phase of strength through consolidation, as evidenced by the steady decline in volume during the pattern. This contracting volume is a classic sign of market stabilization, setting the foundation for a reversal, and positioning $SUPRA for an eventual shift in momentum.
That shift has now materialized. SUPRA has broken out decisively to the upside, accompanied by a strong resurgence in volume, signaling renewed buyer engagement and unlocking significant upward potential. The re-acceleration in volume confirms the breakout's validity and suggests that the market has transitioned from consolidation to the early stages of a bullish uptrend. It’s important to recognize that pullbacks are natural even during strong trends, often offering healthy resets along the way up.
The immediate upside target is set around $0.0179, corresponding to the highest point of the wedge formation. Successfully reclaiming this level would further reinforce the strength of the breakout, but it is also common in such technical setups for gains to extend significantly beyond the initial target, driven by momentum and broader market interest. Monitoring volume and overall market sentiment will be critical to tracking the sustainability and potential extension of this emerging uptrend.
That shift has now materialized. SUPRA has broken out decisively to the upside, accompanied by a strong resurgence in volume, signaling renewed buyer engagement and unlocking significant upward potential. The re-acceleration in volume confirms the breakout's validity and suggests that the market has transitioned from consolidation to the early stages of a bullish uptrend. It’s important to recognize that pullbacks are natural even during strong trends, often offering healthy resets along the way up.
The immediate upside target is set around $0.0179, corresponding to the highest point of the wedge formation. Successfully reclaiming this level would further reinforce the strength of the breakout, but it is also common in such technical setups for gains to extend significantly beyond the initial target, driven by momentum and broader market interest. Monitoring volume and overall market sentiment will be critical to tracking the sustainability and potential extension of this emerging uptrend.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.