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Home Cryptocurrency news

RubyCoin Price Technical Analysis – New Highs

Aayush Jindal by Aayush Jindal
5 years ago
in Cryptocurrency news, Technical analysis
Reading Time: 2min read
RubyCoin Price Technical Analysis. newsbtc altcoin news
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RubyCoin Price Key Highlights

  • Rubycoin price traded higher and managed to break the last high of 0.0002206BTC.
  • A new weekly high was formed and it looks like the price might continue to trade higher.
  • The broken resistance area might act as a support if the price moves lower from the current levels.

Rubycoin price is trading in the bullish zone, and it looks like there is more upsides left in the short term.

Can it be broken?

The Rubycoin price recently managed to trade higher, and it also broke the previous swing high of 0.0002206BTC. The recent break can be seen as a positive sign, as it has opened to doors for more gains in the near term. There was even a bearish trend line on the hourly chart, which was breached to pave the way for more gains. The price traded as high as 0.000224BTC, and there is a chance that the price might head towards the 1.236 extension of the last drop from 0.0002206BTC to 0.0001892BTC.

RubyCoin Price Technical Analysis

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If the price moves lower from the current levels, then an initial support is around the broken resistance at 0.0002206BTC. If sellers manage to break it, then the next support can be around the broken trend line, which could act as a barrier for sellers. It won’t be easy for sellers to take the price lower, as there are many positive signs noticed on the hourly chart, signaling more gains moving ahead.

The hourly RSI is around the overbought levels, which means there is a chance of a minor correction in the short term. Trading volumes are less, which is also a signal that the price is losing momentum.

Intraday Support Level – 0.0002206BTC

Intraday Resistance Level – 0.0002224BTC

Overall, the price may continue to trade higher, as long as it stays above 0.0002206BTC.

 

Charts courtesy of Cryptrader

Tags: RubyCoin Price analysisRubyCoin Price sets new highRubyCoin Price Technical Analysis
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Aayush Jindal

Aayush Jindal

Aayush is a Senior Forex, Cryptocurrencies and Financial Market Strategist with a background in IT and financial markets. He specialises in market strategies and technical analysis, and has spent over a DECADE as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the currency, commodities, Bitcoin and Ethereum markets.

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