Retardio coin price prediction: Can $0.046 support lead to 130% rally?

Market overview

Current state

The entire market has been in a consolidation and retracement phase, and Retardio is no exception. After an impressive 900%+ rally from June to July, which saw the price break out of its consolidation above $0.046 and reach an all-time high (ATH) of $0.14, the price has since retraced to the $0.06 support area, the former resistance. The current price action is forming a bull flag pattern, indicating a potential setup for another significant move.

Key observations: support and resistance

The $0.06 area, which was previously a resistance, is now acting as a strong support. The bull flag retracement suggests that Retardio is gearing up for another potential rally.

Potential breakout

If the price holds above the $0.046 support and breaks out above the upper channel of the bull flag, Retardio could see a significant run back to its ATH of $0.14, representing a 130% move from these levels and more than 100% even after breaking out from the bull flag.

Potential scenarios: Bullish breakout

A breakout above the bull flag’s upper channel could lead to a strong rally, potentially targeting the ATH at $0.14 and beyond.

Disclaimer: This is not financial or investment advice. You are responsible for any capital-related decisions you make, and only you are accountable for the results.

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Support hold

Holding above the $0.046 support is crucial for maintaining the bullish structure. A test and hold above this level could provide a solid foundation for the next move higher.

Conclusion

Retardio is positioned for a potential bullish move, with strong community support and a promising technical setup. If the price holds above the $0.046 support and breaks out of the bull flag, we could see a significant rally towards the ATH, with potential gains exceeding 100% from the breakout point.