The standout point on the $BASED chart is the textbook retest observed after the breakout.

We'd seen a similar structure in $LAB & $BEAT before. Prolonged consolidation, breakout, retest, and then strong price discovery...

BEATUSDT

Perp

5.4766

-19.12%

LABUSDT

Perp

10.83

+8.39%

Right now, #BASED might be in the early stages of a similar scenario.

The downtrend structure has broken

BASEDUSDT

Perp

0.07419

+10.48%

The retest is underway

Support is holding

If buyers continue to defend this area, a move like $LAB's wouldn't be a surprise. Of course, market conditions and volume confirmation are critical.

Big moves usually start not when everyone expects a rally, but during those retest periods when no one's paying attention.