Rollbit Coin Sinks Below Yearly Low: Can It Fall More Or Recover
At press time, the Rollbit Coin was trading close to 0.104 suggesting an intraday loss of 1.68%.
The technical indicators imply a bearish outlook below the key moving average of 20 day EMA.
The Rollbit Coin is extending the losses on the second consecutive day and has slid near its weekly low value. The price suffered rejection from the 50 day EMA, which has been acting as a dynamic resistance and dragging the price on the lower side.
Earlier, the RBL crypto witnessed a beamish trend in the last two months and kept on declining continuously. The key EMAs played a key role in dragging the price towards the lower side. The crypto price suffered multiple rejections and fell down.
The daily chart suggests that the bears retained control of the trend and made aggressive short positions after every rise. The price currently hovers near the yearly low value and is at a risk of breakdown.
The bulls are attempting for a recovery after the price broke down below the monthly low value. However, they seem to be failing as the price suffered rejection from the 50 day EMA.
Any breakdown on the lower side may be anticipated as a trend continuation and the price may drop more. However, the bulls need to accumulate and surpass the lows and surpass above the key EMAs in order to shift the trend.
Rollbit Coin Crypto Volume Analysis
<iframe title="Santiment Chart: Price (RLB), Volume (RLB)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=rollbit-coin&pt=RLB&df=2023-12-01T00%3A00%3A00.000Z&sat=shchcfg_kELJ-B0Xz2Kp&emcg=1&emhwm=1&wm=price_usd%3Bvolume_usd&wax=0%3B1&wc=%2326C953%3B%238c9ad5&ws=%7B%22node%22%3A%22area%22%7D%3B" scrolling="no"></iframe>
The Rollbit Coin volume analysis illustrates that the intraday volume received was 2.135 Million USD which is 4.56 less than the previous day. The volume has dropped in the recent sessions indicating a trend weakening. The current market capitalization of RLB is 345.63 Million USD.
The volume to market capitalization ratio is 0.57% suggesting low volatility in the market. It has 3.29 Million RLB tokens in the circulating supply.
Social Indicators Draw a Bearish Curve
<iframe title="Santiment Chart: Social Dominance (RLB), Twitter Followers 24h (RLB)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=rollbit-coin&pt=RLB&df=2023-12-01T00%3A00%3A00.000Z&sat=shchcfg_kELJ-B0Xz2Kp&emcg=1&emhwm=1&wm=social_dominance_total%3Btwitter_followers_24h&wax=0%3B1&wc=%23FF5B5B%3B%235275FF&ws=%7B%22interval%22%3A%221d%22%7D%3B%7B%22interval%22%3A%221d%22%7D" scrolling="no"></iframe>
The social data including social dominance and twitter followers reveal the increasing or decreasing participation of the social media users in the RLB crypto. The above chart shows that the social dominance of crypto has dropped in the recent sessions. It suggests the loss of interest among the users in Rollbit coin.
However, the twitter followers seems to be constant in the last few months. Twitter is one of the most important social sentiment indicators due to the news and development updates are available on twitter.
Technical Analysis of Rollbit Coin.
<iframe title="Santiment Chart: Price (RLB), RSI 1d (RLB)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=rollbit-coin&pt=RLB&df=2023-12-01T00%3A00%3A00.000Z&sat=shchcfg_kELJ-B0Xz2Kp&emcg=1&emhwm=1&wm=price_usd%3Brsi_1d&wax=0%3B1&wc=%2326C953%3B%23FF5B5B&ws=%3B%7B%22interval%22%3A%221d%22%2C%22__appliedInterval%22%3Atrue%7D" scrolling="no"></iframe>
The directional technical indicators like exponential moving average impart a bearish outlook in the short term. The RLB price hovers below the key EMAs of 20, 50 and 200 days suggesting a negative outlook in the short term as well as long term.
At the time of writing, the RSI line was placed at 45.60 below the mean line and that of the SMA line was placed at 46.89 points. Both the RSI and SMA line were placed below the mean line suggesting a weak outlook in the short term.
Rollbit Coin Crypto Forecast 2024
On the most optimistic note, RLB cryptocurrency could gain to a high of $0.166 as the highest price in April if the bulls are able to surpass the exponential moving average of 50 days. On the other hand, the most pessimistic prediction of our analysts is for the price to reach $0.051 if it breaks below the recent swing low of $0.083.
Conclusion.
The Rollbit Coin is at the risk of falling lower after the price extended ist losses on the second consecutive session. The price suffered rejection from the 50 day EMA and slid down indicating a bearish trend continuation. The price hovers near the yearly low value and might resume on the lower side if it continues on the lower side.
The volume and social dominance has dropped in the recent sessions. Also, the technical indicators imply the prevailation and continuation of a bearish trend.
Technical levels:
Support levels: $0.083 and $0.516
Resistance levels: $0.116 and $0.166.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
The technical indicators imply a bearish outlook below the key moving average of 20 day EMA.
The Rollbit Coin is extending the losses on the second consecutive day and has slid near its weekly low value. The price suffered rejection from the 50 day EMA, which has been acting as a dynamic resistance and dragging the price on the lower side.
Earlier, the RBL crypto witnessed a beamish trend in the last two months and kept on declining continuously. The key EMAs played a key role in dragging the price towards the lower side. The crypto price suffered multiple rejections and fell down.
The daily chart suggests that the bears retained control of the trend and made aggressive short positions after every rise. The price currently hovers near the yearly low value and is at a risk of breakdown.
The bulls are attempting for a recovery after the price broke down below the monthly low value. However, they seem to be failing as the price suffered rejection from the 50 day EMA.
Any breakdown on the lower side may be anticipated as a trend continuation and the price may drop more. However, the bulls need to accumulate and surpass the lows and surpass above the key EMAs in order to shift the trend.
Rollbit Coin Crypto Volume Analysis
<iframe title="Santiment Chart: Price (RLB), Volume (RLB)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=rollbit-coin&pt=RLB&df=2023-12-01T00%3A00%3A00.000Z&sat=shchcfg_kELJ-B0Xz2Kp&emcg=1&emhwm=1&wm=price_usd%3Bvolume_usd&wax=0%3B1&wc=%2326C953%3B%238c9ad5&ws=%7B%22node%22%3A%22area%22%7D%3B" scrolling="no"></iframe>
The Rollbit Coin volume analysis illustrates that the intraday volume received was 2.135 Million USD which is 4.56 less than the previous day. The volume has dropped in the recent sessions indicating a trend weakening. The current market capitalization of RLB is 345.63 Million USD.
The volume to market capitalization ratio is 0.57% suggesting low volatility in the market. It has 3.29 Million RLB tokens in the circulating supply.
Social Indicators Draw a Bearish Curve
<iframe title="Santiment Chart: Social Dominance (RLB), Twitter Followers 24h (RLB)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=rollbit-coin&pt=RLB&df=2023-12-01T00%3A00%3A00.000Z&sat=shchcfg_kELJ-B0Xz2Kp&emcg=1&emhwm=1&wm=social_dominance_total%3Btwitter_followers_24h&wax=0%3B1&wc=%23FF5B5B%3B%235275FF&ws=%7B%22interval%22%3A%221d%22%7D%3B%7B%22interval%22%3A%221d%22%7D" scrolling="no"></iframe>
The social data including social dominance and twitter followers reveal the increasing or decreasing participation of the social media users in the RLB crypto. The above chart shows that the social dominance of crypto has dropped in the recent sessions. It suggests the loss of interest among the users in Rollbit coin.
However, the twitter followers seems to be constant in the last few months. Twitter is one of the most important social sentiment indicators due to the news and development updates are available on twitter.
Technical Analysis of Rollbit Coin.
<iframe title="Santiment Chart: Price (RLB), RSI 1d (RLB)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=rollbit-coin&pt=RLB&df=2023-12-01T00%3A00%3A00.000Z&sat=shchcfg_kELJ-B0Xz2Kp&emcg=1&emhwm=1&wm=price_usd%3Brsi_1d&wax=0%3B1&wc=%2326C953%3B%23FF5B5B&ws=%3B%7B%22interval%22%3A%221d%22%2C%22__appliedInterval%22%3Atrue%7D" scrolling="no"></iframe>
The directional technical indicators like exponential moving average impart a bearish outlook in the short term. The RLB price hovers below the key EMAs of 20, 50 and 200 days suggesting a negative outlook in the short term as well as long term.
At the time of writing, the RSI line was placed at 45.60 below the mean line and that of the SMA line was placed at 46.89 points. Both the RSI and SMA line were placed below the mean line suggesting a weak outlook in the short term.
Rollbit Coin Crypto Forecast 2024
On the most optimistic note, RLB cryptocurrency could gain to a high of $0.166 as the highest price in April if the bulls are able to surpass the exponential moving average of 50 days. On the other hand, the most pessimistic prediction of our analysts is for the price to reach $0.051 if it breaks below the recent swing low of $0.083.
Conclusion.
The Rollbit Coin is at the risk of falling lower after the price extended ist losses on the second consecutive session. The price suffered rejection from the 50 day EMA and slid down indicating a bearish trend continuation. The price hovers near the yearly low value and might resume on the lower side if it continues on the lower side.
The volume and social dominance has dropped in the recent sessions. Also, the technical indicators imply the prevailation and continuation of a bearish trend.
Technical levels:
Support levels: $0.083 and $0.516
Resistance levels: $0.116 and $0.166.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.