- SuperRare (RARE) has broken a 700-day resistance, signaling a bullish shift with strong volume and increased trader interest.
- A stair-step pattern with three consolidation bases suggests continued upward momentum and potential price acceleration.
- If the breakout holds, RARE could surge 2,472% to $2.12, driven by strong buying pressure and historical breakout trends.
SuperRare (RARE) is showing recovery strength, holding firm after breaking past a long-standing resistance. The cryptocurrency previously followed a downward trend for nearly 700 days. However, it recently broke out, signaling a potential shift toward bullish momentum . The breakout target remains at $2.12938, which would be an impressive 2,472% increase from current levels.
Source: Javon Marks
Breakout and Market Momentum
The price movement of RARE/USDT highlights a clear breakout from its descending resistance line. This breakout occurred after multiple failed attempts, finally leading to increased market interest. Volume surged, confirming strong participation from traders and investors alike.
After the breakout, RARE’s price action entered a volatile phase, fluctuating but maintaining higher lows. This suggests a possible accumulation period before a larger rally. Moreover, historical trends indicate that such breakouts often lead to substantial price increases if key resistance levels are breached.
The Stair-Step Pattern and Acceleration Phase
Recent price action on an hourly timeframe highlights a stair-step pattern. Three bases have already formed, each representing consolidation phases before further upward movements.
Source: X
Red circles on the chart indicate key accumulation zones, where buying pressure increased before price acceleration . The first base led to a strong rally, followed by consolidation at Base 2. The same movement repeated at Base 3, confirming a structured price pattern.
A schematic diagram accompanying the analysis suggests a potential fourth base before a rapid acceleration phase. If the pattern continues, RARE may see a sharp price increase in the near future. Increased volume near each base formation strengthens this bullish outlook. The final breakout could push the price toward its long-term target of $2.12.
