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RubyCoin Price Weekly Analysis – Uptrend Remains Intact

Aayush Jindal
Aayush Jindal
4 years ago
2 mins read
RubyCoin Price Technical Analysis. Barrier. Illustration. 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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Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Key Highlights

  • Rubycoin price continued to move higher and even traded above an important resistance of 0.0005 BTC.
  • There is a monster bullish trend line formed on the hourly chart (price feed from Bittrex), supporting the price on the downside.
  • The highlighted trend line is aligned with the 100 hourly simple moving average, which is pushing the price higher.

Rubycoin’s price is following a nice uptrend, and it is intact. There are many positive signs suggesting more gains moving ahead.

Trend Line and Support Area

RubyCoin Price Weekly Analysis

Rubycoin prices continued to surge higher, and the best part is the fact that the price broke a major resistance area and settled above 0.0005 BTC. Now, there is a support trend line formed on the hourly chart of the Rubycoin price (data feed from Bittrex), which is acting as a catalyst for the upside move.

The price is moving perfectly along with the bullish trend line, and the most important point is that the 100 hourly simple moving average is also with the trend lines. The break above 0.0005 BTC was very crucial, which means there is a chance of more upsides in the near term.

RubyCoin Price Weekly Analysis

The price via the data feed from Cryptsy shows that there was a spike towards 0.000732 BTC. It is now correcting lower, and heading towards the 50% Fibonacci retracement of the last leg from the 0.000134 BTC low to the 0.000732 BTC high. There is a major support area at 0.00035-0.00036 BTC, which may act as a barrier if the price moves lower from the current levels.

On the upside, a break above 0.000503 BTC might take the price towards 0.0006 BTC.

Looking at the indicators:

Daily MACD – The daily MACD is about to change the slope to bearish which is a negative sign.

Hourly RSI – The RSI is around the overbought levels, which is calling for a short-term correction.

Intraday Support Level – 0.0004 BTC

Intraday Resistance Level – 0.0005 BTC

 

Charts from Cryptsy and Bittrex; hosted by 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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