$RARE A breakout from a falling wedge pattern on the daily timeframe, with a strong flip off a trendline and Point of Control (PoC) resistance, suggesting a potential +60% move.
Key Technical Levels
Support Zone:
$0.096 (noted as critical support in early March).
$0.082–$0.076 (a deeper support zone if the price retraces further, as suggested on March 12).
A break below $0.076 could signal bearish momentum, potentially targeting $0.06 or lower, aligning with historical lows mentioned in some sources.
Resistance Zone:
$0.135 (immediate resistance from the breakout, per March 11 ).
If breached, the next target could be $0.155–$0.16, based on the projected +60% move from the falling wedge breakout, assuming a starting point near $0.10.
Technical Indicators
Moving Averages:
The 50-day moving average (MA) might be sloping upward if the bullish trend persists, potentially acting as dynamic support (possibly near $0.10–$0.11 based on recent price action).
The 200-day MA, if still above the current price , could act as resistance unless the price has already surpassed it.
Relative Strength Index (RSI):
Post-breakout, RSI might be in the 50–70 range on the daily chart, indicating momentum without being overbought. If it’s neared 70 recently (due to the volume surge), a pullback today could see it cooling off toward 50, suggesting a neutral stance.
Volume:
The extreme volume surge noted on March 11 suggests strong buyer interest. If volume remains elevated today, it supports the bullish case. A drop in volume could indicate consolidation or waning momentum.
If
$RARE is trading above $0.096 and breaks $0.135 with strong volume, it could rally toward $0.155–$0.16 or higher, fulfilling the +60% projection.
Not Financial Advice, DYOR!!
#RARE