- The RIF crypto price has jumped by 55% this month, indicating buying pressure.
- The RIF crypto price is trading at $0.195 with an intraday gain of 4.50% in the last 24 hours.
In a broader time frame, the Rootstock Infrastructure Framework (RIF) price has been bullish and rising by forming higher lows and higher highs. This month, the RIF token price jumped by 100% to approach the 52-week high.
The buyers managed to reach the $0.250 mark but failed to sustain. The RIF token price has dropped by 23% in the last seven days. The market capitalization of Rootstock Infrastructure Framework is $195.04 million, and the 24-hour trading volume is $7.25 million, with a fall of 23%.
The recent selloff can be considered a pullback if the RIF crypto price defends the $0.180 mark. Rootstock Infrastructure Framework price is trading over the significant moving average, which showcases the bullish trend. RSI is at 61, which has slightly dropped from the overbought zone, indicating bearish momentum for the short term.
RIF Price is Surging Through an Inclining Channel; What’s Next?
On a daily time frame, the FIR token price has been rising through an inclining channel and is currently facing resistance from the upper trendline. After short-term selling pressure, the RIF price has formed a hammer candlestick, which may attract buyers.
If the RIF price rises and surpasses the last swing high, it will register a new 52-week high, and a bullish trend can be expected for the next few weeks.
On the other hand, if the price slips below the $0.180 level and is sustained, a selling signal will be generated, and sellers may become confident and drag the price down to the lower trendline.
RIF Price Prediction Over 4-H Timeframe
As per the technical chart, the RIF token price has been in a bearish momentum for the short term and is falling by forming lower lows and lower highs. Currently, the RIF price is facing resistance from the 20-day moving average.
If the RIF crypto price follows the recent trend and faces resistance from the 20-day moving average, it will slip below the last swing low and approach the 200-day moving average in the previous few weeks.
On the other hand, if the Rootstock Infrastructure Framework price surpasses the 20-day EMA and is sustained, the recent trend may reverse and rise to the last swing high. If the price sustains the previous swing high, buying momentum can be initiated, and the price may fly further.
Conclusion
Based on the recent price analysis and technical charts, the RIF crypto price has been in a bullish trend in the broader time frame. However, there has been a recent pullback in the short term, and the RIF price is facing resistance from the 20-day moving average.
If the RIF price defends the $0.180 mark and rises above the upper trendline, it can register a new 52-week high, and a bullish trend can be expected for the next few weeks. On the other hand, if the price slips below the $0.180 level and is sustained, a selling signal will be generated, and sellers may become confident and drag the price down to the lower trendline.
Technical Levels
Resistance: $0.200 & $0.250
Support: $0.180 & $0.125
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
