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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

RubyCoin Price Weekly Analysis – Break Sellers Were Looking for?

Aayush Jindal
Aayush Jindal
7 years ago
2 mins read
rubycoin price. sellers break. take rubycoin illustration. newsbtc.

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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

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Key Highlights

  • Rubycoin prices finally struggled to clear a major resistance area near 0.000511 BTC and traded lower.
  • There was a major bullish trend line on the 4-hour chart (price feed from Bitfinex), which was broken to ignite a downside move.
  • The price traded as low as 0.00038 BTC, where it found support for another upside reaction.

Rubycoin’s price is showing a few bearish signs on the 4-hour chart, and if sellers manage to take advantage, there might be another decline.

100 MA as Resistance for RubyCoin Price

Rubycoin prices attempted to break a major resistance area of 0.0005-0.00051 BTC a couple of times, but struggled to gain momentum. There was a monster support trend line on the 4-hour chart (price feed from Bitfinex), acting as a hurdle for sellers. However, sellers finally managed to take the price below the highlighted trend line and support area.

RubyCoin Price chart

Moreover, the price closed below the 100 simple moving average (4H), suggesting that the recent break may be a real one. However, buyers appeared around 0.00038 BTC to prevent the downside move and pushed the price back higher. There was a sharp upside reaction, but the price is facing offers near the broken 100 MA. Any further gains could take the price towards the broken trend line area where sellers might put up a fight.

Currently, the price is flirting with the 76.4% Fibonacci retracement level of the last drop from 0.00051 BTC to 0.00038 BTC. On the downside, initial support can be seen around 0.00045 BTC followed the all-important 0.0004-0.00038 BTC.

Looking at the Indicators:

4H MACD – The 4H MACD has changed slope from bearish to bullish, which is an encouraging sign for the bulls.

4H RSI – The RSI also managed to settle back above the 50 level, which is another bullish sign.

Intraday Support Level – 0.00045 BTC

Intraday Resistance Level – 0.00051 BTC

 

Charts from Bitfinex; hosted by BitcoinWisom

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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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