RSR on a Bull Streak Above $0.055 - Technical Analysis
Past Performance
As of February 22, 2021, the opening price of RSR was $0.055. As of February 28, 2021, it closed at $0.053. Thus, in the past week, the RSR price has declined by roughly 4%.
In the past 24 hours, the coin's price has been trading between $0.045 and $0.056.
Technical Indications for the Day-Ahead and Tomorrow
Currently, RSR is trading at $0.054. The price has increased from the opening price of $0.053. Thus, the token price is on an upswing.
At present, the RSI indicator is at 38%. A few minutes back, it faced a bearish swing rejection at 55%. Thus, selling pressures are high. Price corrections are occurring in the RSR market. We can expect a brief price pullback amidst a rising price trend.
The MACD and signal lines are negative. A bearish crossover by the MACD line over the signal line gives credence to bearish market momentum. However, since both the lines are very close to the zero line they may change signs soon. Hence, the price will resume its upward movement post a temporary price fall.
RSR Price Analysis
The OBV indicator is rising. This is a positive signal as the demand for RSR is high. High buying activity will push the RSR price upwards. However, as the price is frequently falling and rising above the SMA line, we can say that price adjustments are happening in the market. But, the overall trend looks positive.
Currently, the price is above the Fibonacci pivot point of $0.051. The bullish trend is confirmed if the price breaks out of the first and second Fibonacci pivot resistance levels of $0.055 and $0.058 respectively, in some time. In that case, the price uptrend is expected to continue tomorrow as well.
