Rollbit Coin Price Forecast: Can RLB Recover And Rise Again?Rollbit Coin price is trying to recover the recent losses and is trading in green for the 4th consecutive session.
At the time of writing, the RLB crypto was up nearly 8.95% intraday and was hovering close to $0.1176.
The Rollbit Coin is extending the gains on the 4th consecutive session in order to recover the previous losses incurred previously. The short term trend favored the bears and the crypto loomed towards the yearly lows.
However, the bulls seem to be active at the lower levels and are trying to pump the price higher in order to defend the yearly lows. Currently, the RLB crypto is struggling near the 50 day EMA and is trying to surpass it.
The Rollbit crypto has taken multiple rejections from the 50 day EMA and slumped on the lower side. Now, if the bulls fail to conquer above the 50 day exponential moving average it may indicate a trend continuation and a selling pressure may again be observed on the charts.
However, if the RLB price is able to sustain above 50 day EMA after a breakout. Then, It may invalidate a bearish trend and the crypto price may reverse its course to stay bullish ahead.
Rollbit Coin Crypto Volume Analysis
The volume analysis showcases that the volume inflow had been on a continuous drop for the last one week. However, the intraday volume count has jumped by nearly 65% indicating a rise in volume. At the time of writing, the volume inflow of RLB crypto was close to 2.73 Million USD. Moreover, the live market capitalization of Rollbit coin is 375.534 Million USD and ranks 223rd in the overall crypto market.
The volume to market capitalization ratio is low at 0.79%. Also, the number of RLB tokens in the circulating supply is 3.296 Billion tokens.
Rollbit Coin Price Technical Outlook.
From a technical point of view, the Rollbit Coin price currently seems to be struggling to overcome the recent hurdles of the 20 and 50 day exponential moving average. The daily chart exhibits that RLB has taken multiple rejections from the 20 and 50 day EMA and slid lower. The key EMAs are acting as a dynamic resistance for the crypto.
At the time of writing, the RSI line was placed close to the mean line at 53.55 points. Whereas, the 14 day SMA line was placed at 50.10 points. Both the RSI and SMA line were hovering slightly higher than the mean line indicating a positive outlook. Also, a bullish crossover of both the lines was observed which further adds confirmation.
Rollbit Coin Price Forecast April 2024
On the most bullish observation, The Rollbit Coin price could rise to a high of $0.166 by the end of April 2024 suggesting an upside potential of nearly 41.3% if the buyers are able to surpass above 50 day EMA. On the flip side, the most pessimistic prediction of our analysts is for the price to break below the recent support of $0.085 after which the price may fall to $0.051 level.
Conclusion.
Rollbit Coin (RLB) is witnessing a bullish effort to recover from recent lows. The buyers are attempting to surpass the 50-day EMA which is acting as a dynamic resistance. The price has suffered multiple rejections from the 50 day EMA and slipped lower.
Currently, the buyers are trying to sustain near the 20 and 50-day EMAs, with the key moving averages serving as dynamic resistance. The RSI at 53.55 and the 14-day SMA at 50.10, both above the mean, suggest a positive sentiment, reinforced by a bullish crossover. Now, If RLB crypto price sustains above the 50-day EMA, it may negate the downtrend and stay bullish.
Technical levels:
Support levels: $0.085 and $0.051
Resistance levels: $0.166 and $0.198
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.
