SPX 6900 is showing powerful bullish momentum, rallying 18.20 percent on the day and continuing its streak of higher highs and higher lows. Price is now approaching a potential breakout zone, with strong support below and a bullish continuation pattern forming on the chart. A Fibonacci extension points to $2.20 as the next major upside target, if current structure holds. 
After bottoming out near the $0.25 region, SPX6900 (<a href="https://crypto.news/price/spx6900/">SPX6900</a>) has been in a strong uptrend, marked by consecutive higher lows and higher highs. This structure has consistently reclaimed major volume levels and flipped resistance into support. Now, with price consolidating just under all-time highs and forming what could be a bullish pennant, traders are watching for a continuation move toward the $2.20 region. 
<h2 class="wp-block-heading is-style-default" id="key-technical-points">Key technical points</h2> 
<ul class="wp-block-list"> 
 <li>Value Area High + Daily Support at $1.42: As long as price holds above this zone, the uptrend remains structurally intact.</li> 
 <li>Bullish Pennant Formation Possible: Price is consolidating just beneath ATH, with converging support and resistance pointing to a breakout setup.</li> 
 <li>Fibonacci Extension Target at $2.20: Taken from the last swing low to high, the 0.618 extension projects further upside if breakout occurs.</li> 
</ul> 
<figure class="wp-block-image size-full">
 <img loading="lazy" decoding="async" width="2048" height="940" src="https://crypto.news/app/uploads/2025/06/SPX-6900.png" alt="SPX6900 price target: bullish market structure eyes a pump to $2.20 - 16" class="wp-image-14389239">
 <figcaption class="wp-element-caption">
 SPX6900/USDT (1D) Chart, Source: <a rel="nofollow noopener" target="_blank" href="https://tradingview.com/?aff_id=140857">TradingView</a>
 </figcaption>
</figure> 
SPX 6900’s market structure remains one of the strongest in the current cycle. After establishing a macro low around $0.25, price action reversed sharply, reclaiming the 200-day moving average, breaking past major volume profile levels, and confirming each breakout with a bullish retest. This has led to the formation of solid high-timeframe support zones, which continue to hold. Most recently, a key reaction came from the 0.618 Fibonacci retracement, which produced a strong rally into all-time high territory. Now, price appears to be consolidating in a pennant formation, a classic continuation setup where price coils in equilibrium before a decisive breakout. This pause in momentum is backed by strong volume, suggesting healthy buying interest and sustainable trend conditions. 
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The current critical support zone lies between the value area high and daily support at $1.42. As long as price remains above this level, and the pennant structure continues to develop, a breakout toward $2.20, the 0.618 Fibonacci extension from the last leg, becomes increasingly probable. 
<h2 class="wp-block-heading is-style-default" id="what-to-expect-in-the-coming-price-action">What to expect in the coming price action</h2> 
SPX 6900 remains in a high-momentum uptrend, and the current consolidation phase could lead to another impulsive breakout. If the $1.42 support zone holds and price breaks above the pennant, a move toward $2.20 is the next likely target. Until structure fails, bullish continuation remains the base case.

SPX6900 price target: bullish market structure eyes a pump to $2.20

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