SuperRare (RARE) Bullish Shift

SuperRare (RARE) has broken a 700-day resistance, indicating a bullish change with strong volume and increased trader interest.

Price Movement and Breakout

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 demonstrating recovery strength, maintaining its position after breaking through long-standing resistance. Previously, the cryptocurrency had followed a downward trend for nearly 700 days. However, the recent breakout signifies a potential bullish shift, with the breakout target set at $2.12938, marking an astonishing 2,472% increase from current levels.

Source: Javon Marks

Market Momentum

The price movement of RARE/USDT shows a clear breakout from a descending resistance line. This occurred after multiple failed attempts, ultimately leading to heightened market interest. Volume increased, confirming robust participation from traders and investors alike.

Following the breakout, RARE’s price action has been volatile yet maintains higher lows, indicating a possible accumulation period before a significant rally. Additionally, historical trends point out that such breakouts often result in substantial price increases when key resistance levels are surpassed.

Stair-Step Pattern

Recent price actions on an hourly time frame depict a stair-step pattern, consisting of three bases that represent consolidation phases before further upward movements.

Source: X

Red circles on the chart show key accumulation zones where buying pressure rose before price acceleration. The first base led to a strong rally, followed by consolidation at Base 2. The same pattern was evident at Base 3, confirming a structured price setup.

A schematic diagram accompanying the analysis indicates a potential fourth base before a rapid acceleration phase. If the pattern continues, RARE may see a significant price increase soon. Heightened volume at each base formation further substantiates this optimistic outlook. The final breakout could elevate the price to the long-term target of $2.12.