SPXUSDT Approaching Breakout Zone – 20% Potential Move?

63
SPXUSDT is gearing up for a potential breakout after consolidating in an ascending triangle. Price is once again testing the key horizontal resistance at $1.38, which has held for several days.

Structure:
Ascending triangle on the 4H timeframe – typically bullish
Multiple rejections at the $1.38 level indicate a strong breakout if flipped
RSI is around 63, signaling growing momentum

Trade Setup (If Breakout Confirms):
Entry: Candle closes above $1.38 resistance
Stop Loss: Below $1.3422 support zone

Targets:
$1.4753
$1.5679
$1.7019

Potential upside of ~20% if momentum holds.

Support & Resistance:
Immediate Support: $1.3422 & $1.2962
Major Resistance: $1.38 → $1.4753 → $1.5679 → $1.7019

A breakout from this structure can trigger a strong bullish move. Watch for confirmation and volume.

DYOR. Not financial advice.

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.