RON Coin Price Analysis: Will Bulls Hold the Higher Levels?

• The RON coin price is currently trading at $0.568.
• The coin chart has shown strong buying in the last few trading sessions.
• The coin price has shown a strong recovery of $42.90% since the price has stopped falling.

The RON coin price prediction is bullish for the upcoming and it shows potential growth in its value is expected.

The RON coin price has declined by 74.31% from its 52-week high. The fall in price halted at $0.398 level. 

It commenced a bullish rally from here and showed a significant recovery of 42.90%. It shows that some crypto investors bought the coin at a lower rate and pushed the price upward in the higher high formation.

The price showed the recent up move was supported by high buying volume which seems to make it more reliable to hold the higher levels.

The Ronin (RON) coin price is currently trading below $0.577 resistance with a current market value of $0.568. It has registered a gain of 2.96% in the 24 hours and has been trading with a volume of $134.557K.

Technical Indicators View on RON Price Movement

The RON price has reclaimed the 50-day and 100-day EMA lines with strong buying and is currenlty sustaining above them. This shows the bulls are currenlty dominating and showing their stronghold over the price.

The relative strength index is at 83.42 which is marked in overbought territory. It denotes a small pullback to be seen till the RSI cools off as it was trading above its intrinsic value.

Are Buyers Going to Continue Their Domination?

For the past few trading sessions, the RON coin price has faced high buying volume which shows the interest of the buyers is high in the current scenario. Thus, the price is more likely to hold the higher levels because of the interest of the buyers.

The breakout of $0.577 will surely trigger the continuation of the ongoing uptrend and the price may reach its next resistance at $0.752.

The RON is sustaining above its recent low of $0.491, which is a good sign for buyers. However, the breakdown of this level may create chaos among them which will lead to panic selling. This could be a great chance for sellers to make the price fall even more where it first support will be at $0.405. If this level also got breached then the price may fall to its next support at $0.302.

Conclusion

The RON coin price prediction is bullish in the upcoming months. It is more likely to continue its uptrend after a small retracement or narrow consolidation till the RSI cools off. The EMA lines are showing a strong presence of buyers. Investors should have a close watch on the breakout of the $0.577 level which can trigger the next wave of bull run.

Technical levels

Resistance Levels: $0.577 and $0.752

Support Levels: $0.491 $0.405, and $0.302

Disclaimer

The views and opinions stated by the author or any other person named in this article are for informational purposes only. They do not provide financial, investment, or other advice. Investing or trading in crypto comes with a risk of financial loss.