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Breaking News: REX Shares Claims Its DOGE And XRP Spot ETFs Will Be Approved By US SEC Tomorrow

RubyCoin Price Technical Analysis – Closing In Towards Resistance

Aayush Jindal
Aayush Jindal
7 years ago
2 mins read
RubyCoin Price Technical Analysis. newsbtc altcoin news

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Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
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Key Highlights

  • Rubycoin price is making an attempt to recover after sliding in towards 0.000100BTC.
  • Buyers are pushing the price higher and taking it towards a major bearish trend line and resistance area.
  • The hourly RSI is in the negative zone, pointing that the price is still under a bearish pressure.

Rubycoin price is recovering, but it is closing in towards a major resistance area around 0.000230BTC.

0.000230BTC as a Resistance

As mentioned yesterday that the Rubycoin price tumbled recently and traded 0.000100BTC. However, buyers appeared around the stated level to prevent any additional downsides. The price is currently correcting higher and trading near the 38.2% Fib level of the last leg from 0.000365BTC to 0.000100BTC. There is also a bearish trend line formed on the hourly chart, which might act as a barrier if the price continues to move higher. The highlighted trend line also coincides with the 50% Fib retracement level.

RubyCoin Price Technical Analysis

If the price manages to clear the 38.2% Fib level, then the 50% Fib level along with the trend line area could be tested. Buyers might struggle to clear the highlighted trend line and resistance area. However, if they succeed, it may clear the way for more gains in the near term. The next area of interest in that situation could be around the 61.8% Fib level, followed by the last swing high of 0.000365BTC.

On the other hand, let’s say if the price moves lower, then an initial support might be around 0.000200BTC. If sellers manage to break the stated level, then a move towards the last low of 0.000100BTC is also possible in the short term.

Intraday Support Level – 0.000200BTC

Intraday Resistance Level – 0.000231BTC

The hourly RSI is below the 50 level, which is a signal that buyers are struggling to take the price higher.

 

Charts courtesy of Cryptrader

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Aayush Jindal
Aayush Jindal

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.

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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.
As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.

In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions.

Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences.

Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department.

At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe.

In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

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