Rigetti Computing Bounces Off Bullish Support, Surges Over 62%

March 20, 2025
4:46 pm

Rigetti Computing Bounces Off Bullish Support, Surges Over 62%

On March 19, 2025, Rigetti Computing Inc. (NASDAQ: RGTI) marked a pivotal moment in its trading history. After experiencing a staggering correction of over 72%, the stock has jumped back significantly, surging more than 62% this past month. But what does this mean for investors? Can this momentum continue?

Rigetti Stock Surges 3,145% Before 72% Correction

The wild ride for Rigetti didn’t happen overnight. In just four months, the stock skyrocketed by an astonishing 3,145%, before taking a nosedive that saw it plummet over 72% in a short span. Now, it seems to have found a footing at a major Fibonacci support level of $8, from which it has rebounded strongly.

Key Points

Golden Ratio Resistance: The next big challenge for Rigetti is breaking through the golden ratio resistance at $16. Success here could signal the end of the corrective phase.
Technical Signals: The MACD lines indicate a bullish cross on the monthly chart, hinting at continued upward momentum, though caution is warranted as the histogram is showing signs of weakness.
Current Trading Dynamics: The RSI currently sits neutral, adding to the uncertainty as traders await clear signals.

Can RGTI Continue Its Upward Move?

Despite the recent surge, Rigetti’s bullish drive is showing signs of losing steam. The weekly MACD lines have crossed bearishly, raising concerns that RGTI may retrace to the golden ratio support at $8.

Potential Risks Ahead

If Rigetti fails to sustain above the support level at $8, a decline towards the 50-week EMA at $5.90 could follow. Traders should keep a vigilant eye on these levels to navigate potential trades effectively.

Breakthroughs Signal Bullish Momentum

On a more optimistic note, Rigetti is showcasing bullish dynamics on the daily chart. The stock has recently crossed above the 50-day EMA resistance, which now acts as a strong support level, providing a promising backdrop for future growth.

Conclusion

The upcoming weeks are critical for Rigetti as it aims to consolidate its bullish momentum. With strong technical indicators supporting this rise, but significant resistance ahead, traders should be ready for any market shifts.

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