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- Roblox revenue, has seen a decline year over year due to the strength of the US dollar
- Technical indicators of RBLX suggest a consolidated trend in price. It is currently trading near $29.04 with a gain of over 4.3%
Roblox is a popular online platform that allows users to create and play virtual games and experiences. The company went public in March 2021, with shares starting at $45 each and quickly rising to over $70 in the first few days of trading.Roblox has experienced tremendous growth in recent years, with the number of monthly active users increasing from 64 million in 2019 to over 31 million in 2021. The platform has also proven to be popular with developers, who have created millions of virtual experiences on the platform.In addition to its success as a gaming platform, Roblox has also been recognized as a valuable tool for education and remote work. The company has formed partnerships with a number of educational institutions and organizations to provide virtual learning experiences, and has also seen an increase in usage for virtual meetings and events during the COVID-19 pandemic.
Roblox has a current market cap of 17.488 Billion and can see a strong rise in the future. It is more than 50% low the from its 52 week high. Various analysts are expecting a strong growth in the future.
Bulls Are Ready For An Upside
Roblox stock price is currently seeing a weak upside trend. The weekly technical chart of the RBLX suggests a consolidated trend in price. On coming to the daily chart the asset price is trading near $29..04 with a gain of more than 4.27%. The upside trend of RBLX can see a halt near $40.Meanwhile the downside trend can see a halt near $15. It is currently trading below the 50 and 100 DMA. There can be a negative crossover which can push the asset price to a new low in the future.
Conclusion
Roblox is currently observing a decline in revenue from the past year. RBLX stock price is currently seeing a consolidated trend and can see a new high in the future.
Technical Levels
Major Support:$20
Major Resistance:$40
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
