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SPX6900 price prediction today: Can SPX break past $1.20 soon?

Published: Oct 14, 2024
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SPX is setting up for a potential breakout to $1.10-$1.20, but it faces resistance at $1.00. Will it hold support at $0.70? Here’s today’s price analysis.

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Disclaimer: This is not financial or investment advice. You are responsible for any capital-related decisions you make, and only you are accountable for the results.


  • Note this is a 4-hour timeframe chart.
  • SPX is setting up the same pattern as what we reported at the back end of last week, and then we saw the price break higher. Perfectly called.
  • Price is now forming that pattern, a bullish pennant that has a bullish bias. Break-out targets would be $1.10 to $1.20. However, the $1b MCap level will be a key psychological level to pass.
  • To the downside, the mid $0.70's would be support. It's possible that if price does pull back more substantially, this area is strongly bidded.
  • We are seeing declining volumes which may indicate that momentum is at the beginning stages of fading in the short-term for SPX.
9. SPX-WETH 4-hour chart showing price action with triangle pattern, key support levels, and volume analysis indicating upward momentum
  • Next Support: $0.70
  • Next Resistance: $1.00
  • Direction: Neutral/Bullish
  • Upside Target: $1.10 - $1.20
  • Downside Target: $0.70

Cryptonary's take

It's possible that SPX has a more meaningful correction at some point, but so far, the move has been phenomenally strong, with 20-30% corrections swiftly bought up. If we're right and the market is moving into a more bullish regime, then we'd expect a continuation of these more shallow pullbacks. If the price can break out of the pennant, then SPX could be well north of a $1b MCap before the weekend is here. Overall, it's a super hard one to call here, though.

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