Rubycoin Price Key Highlights
- Rubycoin price declined sharply recently to trade as low as 0.000100BTC where it found buyers.
- There was a sharp spike noted from the mentioned level which helped buyers to some extent.
- There is a bearish trend line formed on the hourly chart, which might act as a hurdle on the upside.
Rubycoin price managed to recover sharply after a major decline, but it is trading below key pivot areas.
Can buyers make it?
The Rubycoin price was crushed recently as sellers managed to clear a couple of important support areas to take the price towards 0.000100BTC. There was a solid buying interest noted around the mentioned level where buyers appeared and defended the downside. The price managed to recover after testing 0.000100BTC and currently trading with a positive tone.
The price also cleared the 38.2% Fib level of the last leg from 0.000365BTC to 0.000100BTC, and currently trading near the 50% Fib level. We need to see whether sellers can manage to defend it successfully in the near term or not. A break above it could take the price towards a bearish trend line formed on the hourly chart. The highlighted trend line is colliding with the 61.8% Fib level at 0.000264BTC. It might be tough for buyers to clear the 61.8% fib level, as 0.000264BTC acted as a pivot level earlier and might be able to prevent upsides moving ahead.
On the downside, a nice support is built near 0.000200BTC. A break below the stated level could ignite a downside reaction, which may take the price towards the last swing low of 0.000100BTC that holds the key in the near term.
Intraday Support Level – 0.000200BTC
Intraday Resistance Level – 0.000264BTC
The hourly RSI is above the 50 level, which is a positive sign for buyers.
Charts courtesy of Cryptrader