RubyCoin Price Technical Analysis – Retest of Last High?

Aayush Jindal

7 years ago

2 mins read

RubyCoin Price Technical Analysis. newsbtc altcoin news

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Rubycoin Price Key Highlights

Rubycoin price moved back higher after a minor correction and it looks it might test the last high.
There is a minor resistance around the last high of 0.0003507BTC, which could be tested and even breached.
Buying dips were favored which played well, as the price moved higher after correcting lower.

Rubycoin price is showing a lot of bullish signs, and the current price action suggests a new weekly high moving ahead.

New High?

The Rubycoin moved higher and traded towards the last swing high of 0.0003507BTC. Yesterday, the price corrected lower and moved closer to the 23% Fib retracement level of the last wave from the 0.000213BTC low to 0.0003507BTC high. Buyers appeared around the stated fib level and prevented any additional downsides. The price is again moving higher and looks set for a retest of 0.0003507BTC. There is even a possibility that the price might break the mentioned level to set a new weekly high.

There is a bullish trend line formed on the hourly chart, as highlighted in yesterday’s post. If the price moves lower or corrects, then it might find support near the 23.6% fib level followed by the 38.2% Fib level. Any further downsides might be limited as the bullish trend line might come into rescue for buyers. The price action is currently positive, suggesting that there is a chance of more gains in the near term.

On the upside, we need to keep a close eye on 0.0003507BTC. If buyers succeed in gaining traction, then there might be a new weekly high above the mentioned level taking the price towards 0.000380BTC.

Intraday Support Level – 0.000320BTC

Intraday Resistance Level – 0.0003507BTC

The hourly RSI is above the 50 level, which is a sign that the price is currently sitting in the bullish zone.

Charts courtesy of Cryptrader

Aayush Jindal

Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis.

From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
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