SuperRare (RARE) is displaying recovery strength after exiting a prolonged downtrend. Analysts note the consistent hold above a key resistance level, suggesting a potential for continued bullish momentum.
Breakout Signals a Shift in Market Sentiment
Following a downward trend, the RARE/USDT on Gate.io shows a robust breakout. For more than 700 days, the price had been falling and reaching lower highs. However, the trade volume rose as soon as a breakout occurred, indicating increased market involvement.
Current Price Action and Market Volatility
At present, RARE trades around $0.07866, below the projected breakout target. Despite this, increased market activity hints at growing investor interest. Moreover, the breakout structure remains intact, suggesting that bullish momentum could still materialize over time.
Long-Term Prospects and Potential Rally
RARE's long-term breakout structure remains valid, with historical trends hinting at a potential rally. The price must sustain above critical levels to build bullish momentum. If buying pressure increases, a move toward $2.12938 could become more realistic.
If SuperRare manages to remain above the critical resistance, it could potentially see significant upward movement. However, increased buying activity is necessary for this to happen.
