Is It Too Late to Buy Rollbit Coin? RLB Price Spikes Up 15% and Launchpad Raises $1.5 Million
Rollbit Coin (RLB) has been on an epic run since July, surging over 800% in a little over a month to post an all-time high of $0.2131 on August 2.
However, after this parabolic ascent, gravity has taken hold as RLB has cooled off and entered a period of consolidation.
For the past two weeks, the price has been rangebound, bouncing between support and resistance as it digests its massive gains.
RLB's 20-day EMA is currently at $0.1670, with RLB's price once again retesting this dynamic support level.
Interestingly, this occurs in confluence with the horizontal support zone of $0.1652 to $0.1732.
The 50-day EMA stands at $0.1291. These EMA levels, especially the 20-day EMA, have been tested multiple times in the past two weeks, indicating a strong dynamic support for the coin.
However, the reduced trading volume combined with consistent retests of the 20-day EMA, could signal that the coin's bullish momentum is waning, potentially leading to a downside breakout.
The relative strength index (RSI), which is a momentum oscillator that measures the speed and change of price movements, currently stands at 54.03, slightly down from yesterday's 54.76. This indicates a slight cooling off of buying pressure.
Meanwhile, the MACD histogram, which is used to identify possible buy and sell points, shows a value of -0.001626, a bearish shift from yesterday's -0.000306.
This suggests that the bearish momentum is increasing, which could lead to further price depreciation.
The immediate resistance for RLB is the Fib 0.236 retracement level of $0.1782, followed by the previous swing high resistance zone of $0.2060 to $0.2133.
If RLB manages to break above these levels, it may indicate the continuation of RLB's bullish trend.
Conversely, the immediate
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