Crypto News

Aave Price Action: Bearish Pull Forces AAVE To Resist Drop To $74 Level

AAVE has been showing hints of recovery today which is quite the opposite of its figures a few hours ago. AAVE shows signs of recovery as price climbs by 7.35% Coin generally bearish but the bulls are now attempting to take over AAVE breaches $77.53 level This could be due to the general crypto market recovering too as of press time. Will this be for long term? The coin has been generally bearish as it resist falling into the $74 level. Key support is now spotted at the $73.65 level and resistance is present at $77. 52. Evidently, AAVE is seen to be moving downhill earlier as it failed miserably in breaching the $77.53 level. At this point AAVE is treading the bearish route for short term. Judging by the 1-day price analysis, it is moving downwards as triggered by the uptick in selling pressure. If the selling pressure subsides, then AAVE price could shoot way up which is happening right now. Chart: TradingView.com AAVE Price Climbs By 7.35% According to CoinMarketCap, the coin’s price has skyrocketed by 7.35% or trading at $79.64 as of press time which means it has successfully breached the $77.53 level that it has been trying to do so for the past couple of days. The Bollinger Bands Indicator higher band is now seen at the $78.63 mark which is now the key resistance for AAVE while the lower band is seen at the $73.83 mark. More so, RSI has previously manifested a decline to 40 but has shown recovery and is now looking more balanced. The 4-hour price chart reveals that the bears have been dominant for many hours but the bulls are now taking over. Previously, the sharp decline of AAVE has caused a devaluation of price down to the $73.22 level which has been a good sign to the sellers. Related Reading: Polkadot Price Watch: What A Drop In This Key Area Can Mean For DOT? Price Likely To Build Momentum AAVE price is seen to be generally bearish due to its sideways consolidation but is seeing an uptick now and making some room for the bulls. The price has plummeted by $74.34 yesterday but it has now found its mojo and on its way to making more gains. Momentum will likely build up in the coming days. At this point, AAVE is expected to continue trading in its current range for the next 24 hours. However, the scenario with AAVE/USD still looks like a tug-of-war and anything can happen at this point as either the bears or the bulls can get exhausted and propel the coin to move either way in the coming days. Related Reading: Uniswap Price Watch: UNI Registers 16% Rally In Last 7 Days AAVE total market cap at $1.12 billion on the daily chart | Source: TradingView.com Featured image from AMBCrypto, Chart: TradingView.com

Crypto News

Binance Coin Could Be Set For A Litmus Test, Eyes $280

BNB price ranges below 50 and 200 EMA on the daily timeframe.  BNB shows bullish strength on the 4H timeframe as price breaks an asymmetric triangle. The price could be poised to retest the 1D and 4H resistance of $280.  Binance Coin (BNB) price showed bullish strength in recent weeks, but the price has failed to match that run against tether (USDT). With the price of Binance Coin facing resistance to breaking above $337, acting as a tough resistance area, the price of BNB has maintained a downtrend as the price broke its bullish structure. (Data from Binance) Related Reading: Why Investing In Terra Classic (LUNC) May Be A Bad Idea Binance Coin (BNB) Price Analysis On The Weekly Chart The price of BNB has recently declined after bouncing from its weekly low of $210 as a price rally to a high of $340 before facing a stip rejection, and the price has struggled to re-establish its bullish trend. The price of BNB is still above a critical support level of $270, which acts as a good demand zone for buy orders. The price of BNB must break through its weekly resistance of $280 in order to trend higher. To restore a relief bounce, the price of BNB must break and hold above the $280 resistance, which is preventing the price of BNB from trending higher. If the price of BNB continues to reject $280, we may see a retest of $270 and possibly a lower support area of $210 on the weekly chart. If the price of BNB breaks and holds above $340, this could start a major rally as this has proven to be a tough area to break out for BNB price. Weekly resistance for the price of BNB – $340. Weekly support for the price of BNB – $270. Price Analysis Of BNB On The Four-hourly (4H) Chart The price of BNB continues to show strength in the 4H timeframe, breaking out of its downtrend range after forming an asymmetric triangle with good volume. The price of BNB is $278, which is higher than the 50 EMA but lower than the 200 EMA. The 50 EMA acts as a support for the BNB price, while the 200 EMA acts as resistance. Prices at the 50 and 200 EMA for BNB are $274 and $280, respectively. Four-Hourly resistance for the BNB price – $280. Four-Hourly support for the BNB price – $274-$250. Onchain Analysis Of BNB The price of BNB from the on-chain analysis looks more decent, producing a reasonable return on investment (ROI) compared to other crypto assets that have struggled for the past three months. With backing from investors and partnerships, the price of BNB could do well. Related Reading: XRP Price Stumbles Near $0.47, What’s Next With Selling Pressure Building? Featured Image From zipmex, Charts From Tradingview and Messari

Altcoins Bitcoin Ethereum

Top Analyst Says Short Squeeze Incoming, Predicts Rallies for Bitcoin, Ethereum and Chainlink

A widely followed crypto analyst is predicting an abrupt rally for a trio of digital assets fueled by short sellers. Crypto strategist Michaël van de Poppe shares to his 628,000 Twitter followers a tweet by financial researcher Jason Goepfert. According to Goepfert, retail traders have spent $18 billion on put options and accumulated $46 billion […]

The post Top Analyst Says Short Squeeze Incoming, Predicts Rallies for Bitcoin, Ethereum and Chainlink appeared first on The Daily Hodl.

Crypto News

TRON Showing Hints Of A Major Rebound After A Week Of Rout

Tron (TRX) holders have been on rough terrain since August with the bears dominating the market. The tables might be turning though in favor of the bulls as shown on the charts.  TRX bulls hint at a comeback after a long period of takeover by the bears TRX price down by 0.87% RSI divergence hints at increased investor optimism According to CoinMarketCap, TRX’s price has plunged by 0.87% or trading at $0.0596 as of this writing. Apparently, Tron is trying to bounce back from its weekly low that registered at $0.056. It seems that the token is still traversing in the same range which validates a strong rebound from that level.  Related Reading: Algorand: ALGO Price All Go With Nearly 30% Rally In Last 7 Days TRON Market Demand Waning? Hence, there is evidently poor demand for TRX in the market which is normal whenever crypto tries to switch lanes from bearish to bullish.  Whale activity looks to be insufficient at this point and not gaining enough traction. Regardless, the supply of TRX has increased for the whales. There is hope as investor optimism ought to be amplified with the recent developments happening for Tron.  Tron’s weighted sentiment index has shown no significant changes in the market. TRX is still stuck in its lower monthly range which explains the failed uptrend happening over the weekend. On the other hand, there are a couple of signals that promise the possibility of the bulls pivoting in the coming days.  TRX Bulls Waiting For The Next Big Wave TRX price might prevail and rebound from the support zone as further validated by its RSI. The RSI divergence shows increased optimism that the price may escalate in terms of buying pressure. On-chain metrics for Tron also feature the increase in demand over the derivatives markets as seen in the past couple of days.  Related Reading: Litecoin Price Watch: Why Only 15% of LTC Holders Are Making Profit Chart: TradingView.com Observation of the funding rates provides critical data because it validates the change in the derivatives market. These observations are usually tied up to the spot market.  While there are signals that hint at a bullish uptrend, the market sentiments reveal that the TRX bulls are on the sidelines and just waiting for the right timing to jump in when the crypto market improves.  On TRX price predictions, although the stablecoin is making progress, it still continues to drop which could go on for the next couple of trading sessions.  Tron’s price may hover below the $0.054 level before September ends. More so, there is also a possibility that TRX’s price could slide below the $0.045 range. With the crypto market currently struggling, TRX prices could also move in the same direction. The bearish thesis will only be proven wrong if and when the price shoot above the $0.066 mark.  TRX total market cap at $5.5 billion on the daily chart | Source: TradingView.com Featured image from CCN.com, Chart: TradingView.com

Bitcoin Crypto News

Bitcoin Price Relief Rally In This Making? BTC Could Target $26,000

The Bitcoin price continues to trade in a tight range between the mid area around $18,000 and $19,500. The cryptocurrency has been moving sideways after a rejection from the $20,000 level which has led to a spike in fear and uncertainty across the nascent sector. Related Reading: Chainlink Price Spikes Above $7 While Bitcoin Sinks Below $20,000 At the time of writing, the Bitcoin price trades at $19,100 with a 2% profit in the last 24 hours and a 1% loss over the last week. The bearish sentiment and fear in the crypto market hint at a potential relief rally which might coincide with the macro forces influencing global markets. Bitcoin Price Forms A Bottom… For Now After last week’s U.S. Federal Reserve (Fed) announcement of a new interest rate hike, the Bitcoin price has been dominated by selling pressure. Bears managed to push the cryptocurrency close to its multi-year low at $18,000. These levels have been operating as critical support as BTC’s price trends to the downside from an an-all time high of $69,000. As selling pressure gained momentum, Bitcoin has stayed about these critical levels. Analyst Justin Bennett believes BTC’s price is re-creating a price action displayed back in early 2022. At that time, the Bitcoin price was recovering from a massive crash and formed a channel between $37,500 and $49,500. The cryptocurrency traded sideways inside this pattern for several months only to be pushed down by macroeconomic developments. This led to another massive crash in May 2022. Bennett believes the Bitcoin price might be forming a similar channel since late June with $27,500 potential operating as critical resistance. As seen below, the analyst believes BTC hit the bottom of the pattern and might be prepared to re-test the top at around $26,000 before crashing below $18,000. The analyst wrote: “Same structure for $BTC as Feb-April, only we’re missing a retest at $26,000”. Macroeconomics Ready To Support A Bitcoin Price Relief Rally Additional data provided by Senior Analyst for Messari, Tom Dunleavy, suggests the crypto market might benefit from a bounce in traditional markets. As the Fed hikes interest rates, risk-on assets, such as Bitcoin and stocks, have shown a high correlation. (1/5)Could be in for another rough week, but everyone always says a bottom comes when we reach peak bearishness. Are we almost there? Some interesting data points: In futures positioning, leveraged accounts are new short more than they have been in a year, by a wide margin pic.twitter.com/VsXwFHj6na — Dunleavy (@dunleavy89) September 26, 2022  At the time of writing, bearish sentiment in financial markets seems to be reaching levels last seen in 2020, during the start of the COVID-19 pandemic. This is usually an indicator of a market bottom and potential relief as short positions piled up in the market. According to Dunleavy, the Put/Call Ratio (P, a metric used to measure the number of call (buy) option contracts versus put (sell) option contracts is reaching a level of 1. This can be translated into a high bearish sentiment in global markets. Related Reading: China Reports GPU Price Fall To All-Time Low Post Ethereum Merge The last time the Put/Call Ratio was at its current levels, the Bitcoin price and the crypto markets went into a multi-year bull run and entered price discovery toward an all-time high. While the current macroeconomic scenario might cap any bullish price action, the momentum could be strong enough to hit $26,000, as Bennett proposed.

Crypto News

Can WAVES Flow Back From Its Low Ebb And Reclaim $4.6?

The month of September for WAVES didn’t look good as the coin registered a sharp downward pattern. The market is looking bearish as WAVES slipped below the key $4.6 level. Crypto market looking bearish for WAVES  WAVES key support retests the $4.3 zone OBV shows a weakening in selling volume Bitcoin, the king of crypto, climbed to $19.8K, forcing the retreat of the bears and allowing the bulls to recharge. In the event that Bitcoin nosedives lower than $19K, this could inevitably pull the other cryptocurrencies down with it. On the other hand, WAVES has shown some improvement as it dashes above the $4 zone in the last two days.   Waves is a multi-purpose blockchain platform which supports different types of use cases including decentralized applications and smart contracts. The blockchain platform’s native token is WAVES, an uncapped supply coin used for payments such as block rewards. $4.3 Revisited As Key Resistance Zone Based on the 4-hour chart, WAVES was able to recover and jump to the $4.3 level following its recent correction. In the next days, WAVES price is seen to bounce back in the $4.5-$4.6 range. A couple of days ago, the key support found at $4.3 have been revisited as a key resistance zone. Related Reading: Dogecoin (DOGE) Is On Top Of Whales’ Menu – Here’s Why Source: TradingView.com Earlier, its price has once again dropped below the $4 range. On the 1-hour chart, it retreated once again or back to the $4.3 level following its latest setback. The price on the higher timeframes is seen to be massively bearish than bullish. Additionally, the market is now leaning toward the sellers as noted in the past few weeks. WAVES was aiming to hit the $4.3 mark a few days ago but was barred and pushed towards the $3.9 mark instead. With that being said, going long in the $4.02 support level wouldn’t be a wise move, especially with the risks involved. With the token unable to clutch strongly on the $4 zone, this led to the bears gaining enough traction to dominate. Additionally, a selling opportunity is predicted to occur once a retest is done on the $4 mark. Related Reading: Polkadot Suffers 10% Weekly Loss On Hawkish Fed – Time To Buy DOT? WAVES RSI Falls Below 50 According to CoinMarketCap, WAVES price is up by 2.53% or trading at $4.01 as of press time. The Fibonacci retracement levels at the $4.0 and $4.09 range can hinder the buyers’ intent to press on the gas in terms of prices. The token’s relative strength index is seen to have traversed below 50 further strengthening the validation of bearish momentum. Also, the CMF is seen to have dropped beneath the -0.06 level showing the rapid loss of capital. In terms of On Balance Volume, the token seems to signify weakened selling as seen in the past few days. More so, the OBV also shows that there is no indication of a sharp pullback. The price is seen to have plunged below the $4 mark. It was seen to pause at the $3.94 level which means a retest at the $4 mark could tick off a selling opportunity. Crypto total market cap at $902 billion on the daily chart | Source: TradingView.com Featured image from The Coin Republic, Chart: TradingView.com (The analysis represents the author’s personal views and should not be construed as investment advice).

Crypto News

Sandbox Struggles In A Bear Market, How Low Can Price Go?

SAND trades below 50 and 200 EMA on the daily timeframe.  Price continues to range with little or no volume despite having strong fundamentals. A break above $1 could trigger a relief rally for SAND price. Sandbox (SAND) price has had a rough time recently as price ranges in a daily timeframe channel against tether (USDT). Despite having good fundamentals with so much backing from top investors and partnerships, the price of Sandbox (SAND) has struggled to replicate its run to a high of $8. (Data from Binance) Related Reading: Dogecoin (DOGE) Is On Top Of Whales’ Menu – Here’s Why Sandbox (SAND) Price Analysis On The Weekly Chart  The price of SAND has had difficult moments, with such movement from a low of $0.5 to a high of $8 in a few weeks, creating euphoria in the hearts of traders and major crypto players. Despite being backed by strong investors and partnerships, the bear market has impacted the price of SAND, which has dropped from $8 to $1, a drop of more than 70% from its all-time high. SAND’s price showed great strength as it rallied from its weekly low of $1 to a high of $1.5 before failing to break above that region to higher heights. The price of SAND has remained range-bound, unable to break above a weekly resistance of $1.5 to trend higher to the $2 region. To have a better chance of trading higher, the price of SAND must break and close above $1.5. The price of SAND has formed a downtrend line, acting as resistance; flipping the area of $1.5, which is acting as weekly resistance, into support will signal a more relief bounce for the price of SAND. If the price of SAND fails to break through this key resistance region, we may see the price of SAND range within this channel or retest the $0.6 and lower support and demand zone for more buy orders. Weekly resistance for the price of SAND – $1.5 Weekly support for the price of SAND – $0.6-$0.5. Price Analysis Of SAND On The Daily (1D) Chart The daily timeframe for SAND prices remains in a range channel, with prices unable to break out due to low volume. After being rejected from a high of $1.5, the price continued in a range in a channel, with eyes set on flipping the $1.5 rejection area, where SAND prices have tested several times. The price of SAND is currently trading at $0.92 on the 1D timeframe, below the 50 and 200 Exponential Moving Averages (EMA), which act as resistance. The prices of $1 and $1.6 correspond to the 50 and 200 EMA resistance levels, respectively. The price of SAND needs to flip the $1 resistance into support to signal a relief bounce as the price of SAND has kept trading at its low since the major rally. Daily resistance for the SAND price – $1-$1.6. Daily support for the SAND price – $0.6. Related Reading: U.S Federal Reserve Set To Hike Rates Above 400 BPs – How Will Crypto Market React? Featured Image From Breakingnews, Charts From Tradingview

Altcoins Bitcoin

Trader Calls One Ethereum-Based Crypto Asset the ‘Opportunity of a Lifetime,’ Says Altcoins May Erupt if Bitcoin Consolidates

Popular crypto analyst Michaël van de Poppe thinks one overlooked digital asset is the “opportunity of a lifetime.” Van de Poppe tells his 627,800 Twitter followers that the decentralized oracle network Chainlink (LINK) is a huge opportunity priced between $6-$8. Chainlink’s native asset LINK is trading at $7.26 at time of writing. The 25th-ranked crypto […]

The post Trader Calls One Ethereum-Based Crypto Asset the ‘Opportunity of a Lifetime,’ Says Altcoins May Erupt if Bitcoin Consolidates appeared first on The Daily Hodl.

Bitcoin Crypto News

Bitcoin Price Slips Below $19,000, Vital Trading Levels To Look Out For

The Bitcoin price is now trading below the $19,000 level after the bulls failed to defend the coin at the aforementioned level. Over the last 24 hours, BTC fell by 1.2%, indicating that the coin was laterally trading. In the past week, the Bitcoin price has depreciated 6%. Buying strength continued to remain low on the one-day chart. Sellers have taken over, and it has been the same for almost a week. If the price of Bitcoin continues in this direction, the coin may fall to its immediate support zone. If the bulls have to defend BTC at the current price level, then buyers have to come through. The current support zone for the coin is $18,500-$18,000. A fall from that level would cause Bitcoin to travel below $17,000. The asset can drop to $16,000 and then, subsequently, to the $14,000 level. The recent dip in buying strength will cause BTC to dip further on its 24-hour chart. Bitcoin Price Analysis: One Day Chart BTC was trading at $18,600 at the time of writing. The immediate resistance for the coin was at $19,000, and the bulls have failed to defend the coin at that price level for weeks now. If Bitcoin price manages to surpass the $20,000 level, the bulls might be able to take charge. The nearest support line for the coin was $18,000. A fall beneath that means BTC touching $16,000 and then $14,000. The amount of Bitcoin traded in the last session decreased, and that meant a fall in buying strength. Technical Analysis On the one-day chart, BTC showed that there was demand at lower levels. The technical indicators also suggested that sellers outnumbered buyers. The Relative Strength Index was below the half-line, which indicated increased selling strength. The Bitcoin price was below the 20-SMA line, and that meant sellers were driving the price momentum in the market as there was decreased demand for Bitcoin on the one-day chart. Related Reading: TA: Bitcoin Price Remains Range bound, Why There’s Hope of a Fresh Rally BTC depicted increased selling pressure, which has been dragging the coin to its closest support line. The technical outlook points towards further selling pressure for the coin. The Moving Average Convergence Divergence indicates the price momentum and the overall price action of the coin. The MACD underwent a bearish crossover and formed red histograms, which was sell signal for the coin. The Directional Movement Index was negative as the -DI line was above the +DI line and that showed that the bears were in control of the coiin. The Average Directional Index (Red) was moving above the 20-mark, and that’s a sign of bearish momentum for Bitcoin. Related Reading: Bitcoin aSOPR Profit-Loss Junction Continues To Act As Resistance Featured image from UnSplash, Chart: TradingView.com

Crypto News

Compound Prepares For A Major Rally To $80, Here Is Why

The price of COMP remains above the daily 50 EMA as it approaches $80. Price remains bullish, holding above key support areas COMP price ranges in an asymmetric triangle with high buy orders. The Compound (COMP) token price has recently been volatile as price ranges in an asymmetric triangle prepare for a breakout to a region of $80 against tether (USDT). Despite the fact that the crypto market is in a state of flux, the Compound (COMP) price has shown tremendous strength as it attempts to break out of its trading range. (Data from Binance) Related Reading: PoW Tokens Take A Hit: Ravencoin and Ethereum Classic Crash Over 20% Compound (COMP) Price Analysis On The Weekly Chart  Despite a drop in price from $850 to $30, a drop of more than 70% from its all-time high. COMP’s price showed great strength as it rallied from its weekly low of $30 to a high of $60 before failing to break above that region to higher heights. The price of COMP has remained in a range as it is unable to break above a weekly resistance of $66 in order to trend higher to a region of $80. To have a better chance of trading higher, the COMP price must break and close above $66. The price of COMP has formed an uptrend line that is acting as support; flipping this area of resistance into support will signal a more relief bounce for the price of COMP. If the price of COMP fails to break through this key resistance region, we may see the price of COMP range within this channel or retest the $40 and lower support and demand zone for more buy orders. Weekly resistance for the price of COMP – $66 Weekly support for the price of COMP – $40. Price Analysis Of COMP On The Daily (1D) Chart The daily timeframe for COMP prices is still strong, with prices ranging in an asymmetric triangle with high volume. Despite being rejected from a high of $65, the price has remained in a range forming an asymmetric triangle, with volume increasing in anticipation of a major breakout. On the daily timeframe, the price of COMP is currently trading at $61, above the 50 Exponential Moving Average (EMA), which acts as a support for the price of COMP, and below the 200 EMA, which acts as resistance for the price of COMP. The price of $54 corresponds to the 50 EMA support, while the price at $80-$86 corresponds to the resistance. The price of COMP needs to break above this resistance to rally high. The Relative Strength Index (RSI) for COMP is above 60 on the daily chart, indicating more buy order volume.  Daily resistance for the COMP price – $66. Daily support for the COMP price – $54-$45. Related Reading: Polkadot Suffers 10% Weekly Loss On Hawkish Fed – Time To Buy DOT? Featured Image From zipmex, Charts From Tradingview 

Bitcoin Blockchain Crypto News

Shiba Inu Eternity Update Awaited – Will This Lift SHIB’s Price?

There may be a Shiba Inu (SHIB) rally coming soon. Recent events have sparked widespread interest in the Shiba Inu project and its native cryptocurrency. On Thursday, the company’s founder and chief programmer, Shytoshi Kusama, informed the SHIB Army that the company’s development team is working on a burn mechanism that will have implications for the entire Shiba Inu ecosystem. SHIB holders can’t help but be giddy about the future, what with the community’s official Twitter account teasing yet another major update. Related Reading: Will Polkadot Network Progress Give An Ailing DOT Renewed Vigor? Shiba Inu ‘Eternity’ Excitement   A lot has happened since the Australian release of Shiba Eternity. All of this excitement and eagerness is only heightened by the latest statement made by the official account tweet. Thank you to all the wonderful #SHIBARMY listeners, participants, and those who asked questions. You rock! See you on Download Day, October 1st/2nd!! 😍😍 #SHIB #Shiboshis #ShibaEternity #SHIBARMYSTRONG https://t.co/TcGVBZIM10 — SHIBQueenie (@SHIBQueenie) September 23, 2022 The Shiba Inu team just announced via the Twitter Space Event “Shiba Eternity Community Update” the official date for the global debut of the Shiba Inu Collectible Card Game. According to the announcement, Shiba Eternity will launch on October 1. The Shiba Inu Community will celebrate the release as “Download Day” while simultaneously breaking the Android and iOS App Stores. There was consequently a lot of excitement about the coin and the overall ecosystem. There is additional good news for the ecosystem. As of this writing, the development team is still putting the last touches to Shibarium, the upcoming update that is anticipated to debut on or about September 30. That Much-Needed Scalability Supposedly, this upgrade will provide scalability to the Shiba Inu ecosystem and cut gas expenses for everyone, particularly on the gaming side. Will this, however, be sufficient for the coin to rally? Currently, the coin’s value is between $0.000000957 and $0.00001230. This indicates that the currency is trading within its June price range, which is a less favorable period for cryptocurrencies. Chart: TradingView.com This decline in price, which followed a progressive climb from June to August, is the result of larger market factors. The recent 0.75 percent increase in interest rates and the news of worsening year-over-year inflation caused investors and traders to feel dread. The price decreased by a stunning 25.06 percent from its latest peak on September 10. SHIB Seen Rising To The Occasion Nevertheless, it has risen to the $0.00001038 price range from its bottom on September 21. This range of prices will support the token’s expected relief rally. The last decline at $0.00001192 represents the resistance. This level is critical since bulls can easily exploit any breakthroughs towards the 78.60 Fib level. Due to the fact that the SHIB token is based on Ethereum, its value might be affected by the Ethereum ecosystem. The current market conditions can magnify the coin’s volatility that may lead to a crash. If the larger financial markets rebound from the decline on September 13, we can anticipate SHIB to ride the tide of recovery. Related Reading: What Ethereum Can Bring On The Table For ETH Investors In Q4 SHIB total market cap at $5.8 billion on the daily chart | Source: TradingView.com Featured image from Coin Culture, Chart: TradingView.com

Crypto News

Reserve Right Token Spikes Leaving Many In Euphoria, Eyes $0.01

RSR price holds above daily 50 EMA as price eyes $0.01  Price continues to look bullish, holding above key support areas RSR price breaks out of daily asymmetric triangle with high buy orders.  Reserve Right (RSR) token price has had a rough time in recent weeks breaking out of its range but could rally to $0.01 as price broke out with more buy orders against tether (USDT). Despite the crypto market facing so much uncertainty as to where the market is headed, the price of the Reserve Right (RSR) token has shown a tremendous amount of strength as the price cracks double-digit gains. (Data from Binance) Related Reading: Ripple Gains While Bitcoin Remains Below $20,000 Reserve Right (RSR) Price Analysis On The Weekly Chart Despite a decline in its price from $0.1 to $0.0037, over 70% decline from its all-time high. The price of RSR showed great strength as the price bounced from its weekly low of $0.003, rallying to a high of $0.008 before facing a rejection to break above that region to higher heights. The price of RSR has continued to move in range as the price cannot break above a weekly resistance of $0.008 for the price of RSR to trend higher to a region of $0.01.  RSR price needs to break and close above $0.008 to have a better chance of trading higher. The Fibonacci retracement ratio shows the price of RSR is faced with resistance at 23.6%; flipping this area of resistance into support will signal a more relief bounce for the price of RSR.  If the price of RSR fails to break this key region acting as resistance, we could see the price of RSR retesting $0.0055, acting as a support and demand zone for more buy orders. Weekly resistance for the price of RSR – $0.008-$0.01. Weekly support for the price of RSR – $0.0055. Price Analysis Of RSR On The Daily (1D) Chart The daily timeframe for RSR prices continues to look strong as the price broke out of an asymmetric triangle with strong volume. Despite RSR being rejected from a high of $0.01, the price continued in a range forming an asymmetric triangle before breaking out with good buy volume. On the daily timeframe, the price of RSR is currently trading at $0.0074, holding its price above the 50 Exponential Moving Average (EMA), acting as support for RSR price. The price of RSR is trading below 200 EMA as it eyes $0.01, being a major resistance. The price of $ and $0.0063 corresponds to the support at 50 EMA, and $0.01 correspond to the resistance at 200 EMA for the price of RSR.  The Relative Strength Index (RSI) for SOL is above 40 on the daily chart, indicating more sell order volume.  Daily resistance for the RSR price – $0.01. Daily support for the RSR price – $0.0063. Related Reading: Fall Of Crypto King, A Canadian Driven-Lambo Records $35M Losses Featured Image From zipmex, Charts From Tradingview