$SUPER confirms a textbook double bottom with a breakout above $1.60, targeting $2.65 after a clean weekly structure reset.
Volume surged as $SUPER broke neckline resistance, validating a bullish reversal with strong structural support at $1.60.
Analysts watch for a retest of $1.60 to hold, as momentum builds from a failed $2.40 breakout and higher lows since 2024.
A large-scale double bottom pattern has emerged on the $SUPER weekly chart, pointing to a bullish reversal. Price has broken through critical resistance, setting up a retest before advancing toward a projected $2.65 target.
Weekly Pattern Forms Foundation for Bullish Structure
The weekly chart shows $SUPER carving out a long-term base since mid-2023, with price repeatedly defending the $0.40 zone. This level formed the foundation of a macro double bottom structure, followed by a series of higher lows. The breakout above $1.60 has now confirmed the pattern’s validity, initiating a trend shift.
https://twitter.com/Bitcoinsensus/status/1925219161090773290
As we can see from the shared post above, sentiment around $SUPER has turned decisively bullish. The asset has spent months forming a textbook double bottom on the weekly timeframe. The breakout from its neckline now confirms a potential long-term trend shift.
According to Bitcoinsensus, the neckline at $1.60 had served as a key resistance zone throughout the pattern's development. That level rejected a prior breakout attempt in late 2024, sending the price back to retest the $0.40 support. This symmetrical rejection helped define the structure's integrity, reinforcing the neckline’s importance.
The analyst has provided insights showing that volume expanded significantly during the breakout, with price closing firmly above $1.60. The projected target of $2.65 is calculated using the height of the formation, applying it from the breakout point. A pullback to the neckline is expected to confirm support before further upside.
Market Watchers Signal Pattern Confirmation
In addition, there’s also growing agreement among analysts that the structure aligns with classic breakout mechanics. Experts point to the steady climb from the second bottom, noting consistently higher lows leading into resistance. The recent close above the neckline meets key confirmation criteria observed in historical double bottoms.
Market watchers also highlighted the failed deviation above $2.40 in late 2024, which ultimately strengthened the breakout's credibility. What’s even more compelling is the clean retest scenario now in progress. A successful bounce from the neckline zone would confirm structural strength and signal continuation toward the $2.65 target.
Still, this doesn’t mean everything is settled. A decisive break back below $1.60 could undermine the pattern. That said, momentum remains with the bulls as long as support levels hold.
