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- 1 The RLB token price showcased underperformance and is declining gains.
- 2 Technical indicators are suggesting further breakdown ahead.
The Rollbit (RLB) price continued eroding gains and has performed low swings for the past sessions. Moreover, the token price showcased bear dominance and the price action signified the selling pressure in the past weeks. The trend favors the bears and suggests a further downtrend. The token is trading below the key moving averages and has shown a rebound, leading to a retest of the 20-day EMA mark. However, the bulls failed to hold the 20-day EMA, and sellers are showing their strength.
At press time, the Rollbit (RLB) price was trading at $0.10.73 with an intraday gain of 4.78%, reflecting bearishness on the charts. It has a monthly return ratio of -56.90% and -23.89% on a yearly basis. The pair of RLB/BTC is at 0.00000151 BTC, and the market cap is $1.17 Million. Analysts are bearish and suggest that the RLB token price may continue to drag the gains and may retest the demand zone of $0.08000 soon.
RLB Price-to-Volume Profile Showcasing Bearishness
The above data showcasing the RLB price-to-volume profile reveals the short additions by the sellers, and the mighty bear cartel persisted in putting pressure on the bulls, resulting in erosion of gains in the past weeks. However, the trading volume remained average and surged over 13% to $1.16 million.
Price Volatility and Sentiment Analysis
The Social dominance data noted a decline of over 110% to 0.048%, signifying a decline in investor interest. Moreover, the Twitter followers’ activity remained constant, at around 625.
Active Addresses and the Number of Holders Analysis
The active addresses value stands near 2015, noting a decline of over 8% this month, whereas the total amount of holders was around 24.5k, depicting a neutral outlook. Per the Fibonacci retracement levels, the RLB token price has slipped below the 23.6% zone and is trading in the bearish region.
The RSI curve stayed in the oversold region, showing a negative crossover on the charts. Similarly, the MACD indicator shows underperformance for the following sessions.
Summary
The Rollbit (RLB) token price persisted in dragging gains and is trading in bearish territory, signifying underperformance on the charts. Moreover, the trend favors the bearishness, and the token may soon retest the demand zone of $0.8000.
Technical Levels
Support Levels: $0.1000 and $0.0960
Resistance Levels: $0.1180 and $0.1300
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.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
