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- 1 RON coin price chart reflects a higher high swing; it is close to its 20-Day EMA support zone.
- 2 The technicals are suggesting a rebound toward the $5 mark.
The Ronin (RON) coin price noted a breakout from the double bottom formation and is retesting the neckline support region of $3.50 mark. The technicals looked promising and suggest that the asset is likely to rise further. The trend is bullish and buying momentum is intact, implying bullish accumulation. Moreover, the coin is holding the gains above the key moving averages and may attain a rebound soon.
At press time, the Ronin crypto (RON) price was trading at $3.83 with an intraday drop of 6.77%, reflecting neutrality on the charts. It has a monthly return ratio of 33.56% and 68.55% yearly. The pair of RON/BTC is at 0.0000575 BTC, and the market cap is $1.15 Billion. Analysts are neutral and suggest the Ronin coin price will attain pullback and may cross the upside mark of $5 soon.
Ronin Crypto In Uptrend, Still Up To The Bulls?
The data shows that the coin is trading in the bullish trajectory and has made a fresh 52-Week high mark of $4.45 this week. However, due to the global market retracement, the coin failed to hold the gains and profit booking was noted in the last 48 hours. However, the trend remains intact and the buying interest is still visible on the charts. The trading volume remains on a higher note and is noted at $41.70 Million.
RON Witnessed Drop in Price Volatility, What’s Next?
This week, following the price retracement, the volatility also noted a drop of over 90% and has dragged to a mark of 0.053. Apart from that, the weighted sentiment remained average and is close to the midline of 0.0304. The data indicates neutral sentiment, but the price action shows the outperform outlook for the upcoming sessions.
Social Dominance and Volume Outlook
Per the Santiment data, the social dominance value noted a steep decline and has dragged by over 120% to 0.038% value this month. Amid the notable surge, the drop in social dominance signifies the decline in investor participation on social media platforms. Likewise, the social volume data also dropped by over 230% to 9.
RONIN Crypto Whales Activity Analysis
The data shows that the coin has noted an impressive whale participation this month. The percent of stablecoins total supply held by the whales takes a massive elevation and has surged by over 11% to 57.45.
The Relative strength index (RSI) curve stayed in the overbought zone and signifies a negative divergence on the charts. Moreover, the market cap witnessed a decline of over 8% to $1.16 Billion. The total supply of the Ronin crypto is 1 billion, whereas the volume to market cap ratio is 0.0357.
Summary
The Ronin crypto (RON) price signifies an uptrend and is close to the 20-Day EMA mark, where a bounce is anticipated soon. Moreover, the coin is trading in the bullish region and buyers are persisting in accumulation and are showing their dominance, which will further lift the coin price soon.
Technical Levels
Support Levels: $3.20 and $3
Resistance Levels: $4 and $4.50
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice.
Anurag is working as a fundamental writer for The Coin Republic since 2021. He likes to exercise his curious muscles and research deep into a topic. Though he covers various aspects of the crypto industry, he is quite passionate about the Web3, NFTs, Gaming, and Metaverse, and envisions them as the future of the (digital) economy. A reader & writer at heart, he calls himself an “average guitar player” and a fun footballer.
