Fair point. It's also significant to the daily but just on a longer time frame / different base. 50% retracement is still a significant support point either way and it does look to be forming support but 61.8% is a possibility based on the start of the bull run from 5th October to the peak.
In 2020, the bull run started 20th March and retraced from the peak to 61.8% support and then continued lower a couple of weeks later. You can see improved support at 50% retracement level in 2022 vs 2020 and it looks like the price is getting close to forming a base. Will be watching closely to see if $1.33 holds, if not then i reckon $1.13 will be close to the bottom but think this is dependent on the performance of the NASDAQ. Don't think it will drop under 61.8% this time around due to improved fundamentals.
Chart, page-16581
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