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- 1 The Ronin crypto bounced back from the 50-day EMA and halted the further downfall, indicating the presence of buyers near the dynamic support.
- 2 At the time of writing, the RON crypto price was trading at 2.79 USD with an intraday gain of 0.82%.
Ronin crypto stages a recovery in the last couple of sessions after falling back to back three sessions. The short term outlook shows bears’ dominance at higher levels as the dynamic support of 20-day EMA has been broken.
Moreover, the buyers are trying to stabilize the price near the 50-day exponential moving average as the crypto has halted the further fall. The price still hovers higher than the previous swing low of $2.44 level, suggesting the long-term trend is still on the positive side.
Earlier, the RON crypto was headed higher, forming an upward trajectory. The key exponential moving average of 20-day has been acting as a dynamic support for the crypto and helping the crypto surpass the previous highs.
Recently, the buyers failed to conquer the recent high, which led to the formation of a double-top pattern. The sellers turned aggressive after the price bottomed out and made aggressive short positions at the upper levels.
Bulls Or Bears: Who Will Dominate the Trend?
The short-term trend outlook seems to be neutral to bearish at the moment after the breakdown of the 20-day EMA. However, the buyers have made a comeback in the last couple of sessions and prevented the further fall. Thus stabilizing the price near the 50-day EMA.
If the price sustains above the 50-day EMA and surges higher, it may attract more buyers at the lower levels and acclaim the previous swing highs soon.
However, if the sellers continue to dominate the short-term trend and the price looms further downwards, it may indicate a correction in the short term. Any breakdown below the 50-day EMA may unlock more downside potential till the 200-day EMA at the $1.7 level.
Ronin Price Technical Analysis
The technical indicators imply a mixed outlook about the short-term trend. Currently, the RON crypto hovers below the 20-day EMA suggesting a neutral to bearish outlook in the short-term. Moreover, the price still hovers above the 200-day EMA, indicating a long-term bullish trend.
At the time of writing, the RSI line was placed at 47.84 points, and the 14-day SMA line was placed at 55.99 points. The RSI line has made a bearish crossover of the SMA line, indicating a short term negative trend.
Ronin Crypto Prediction March 2024
The price prediction of Ronin crypto for March shows that the RON crypto may surge again if the buyers can defend the 50-day EMA successfully. On the higher side, $ 3.1 and $3.5 may be the next possible targets if the buyers are able to surpass the hurdle of the 20-day exponential moving average.
Ronin Price Prediction 2024
The price forecast for the year 2024 highlights that the RON token price could reach a high of $6.78, suggesting a potential gain of over 144.71%. Moreover, the bearish outlook of the analysts is that the price could reach $4.94 by the year’s end.
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.
Amanda Shinoy is one of the few women in the space invested knee-deep in crypto. An advocate for increasing the presence of women in crypto, she is known for her accurate technical analysis and price prediction of cryptocurrencies. Readers are often waiting for her opinion about the next rally. She is a finance expert with an MBA in finance. Quitting a corporate job at a leading financial institution, she now engages herself full-time into financial education for the general public.
