After posting three consecutive months of gains, Rollbit Coin (RLB) suffered a dramatic reversal in September, with prices plunging 40% so far amidst declining trading volumes.
With RLB hovering precariously near crucial support levels, investors are left asking whether this selloff marks a bottom or if the coin still has further room to fall in the weeks ahead.
Rollbit Coin (RLB) Price Prediction and Technical Analysis
The 20-day EMA for the RLB price currently stands at $0.13552, slightly above the 50-day EMA of $0.13316. Typically, when the short-term EMA crosses above the long-term EMA, it is seen as a bullish sign.
However, the marginal difference and downward price movement suggest caution in this case. The closeness of these EMAs is a sign of volatility and uncertainty in the RLB price, and investors should be wary of making moves based on this indicator alone.
The RSI currently stands at 33.76, down from yesterday’s 35.31. This is nearing the oversold territory (an RSI below 30), suggesting that the RLB price may be due for a rebound.
The MACD histogram is at -0.004648, a decrease from the previous day’s -0.004289. This growing negative value suggests the bearish sentiment is gaining momentum, which could further affect the RLB price.
Understanding the Volume and Market Cap; Key Price Levels
The 8.59% drop in market cap to $342.8 million, coupled with the 40.67% decrease in the 24-hour volume to $3.7 million, paints a picture of decreased investor enthusiasm for RLB. This could lead to further declines in the RLB price if this trend continues.
The RLB price currently faces a horizontal resistance zone of $0.11764 to $0.12502, coupled with the Fib 0.618 level of $0.12129. Overcoming this resistance could signal an upward trend.
Simultaneously, an immediate support zone lies between $0.09277 and $0.09888, along with the Fib 0.786 level of $0.09632.
If this support level doesn’t hold, the RLB price could face a steep descent towards the previous swing low support zone of $0.06282 to $0.06802—a near 40% drop from current levels.
What’s Next for the RLB Price?
With Rollbit Coin stabilizing above key support, technical indicators remain at a crossroads. While deeply oversold RSI signals bounce potential, falling volume highlights fading conviction.
Trading within defined risk limits while awaiting a decisive catalyst may be prudent. A breach of $0.09 support or breakout past $0.12 resistance could set the next trend.
Rollbit Coin highlighted the possibilities of combining blockchain technology with online gambling, but a new project is taking this integration to the next level.
TG.Casino seeks to bring crypto casinos directly to Telegram’s 700+ million users. This offers the potential to significantly expand the blockchain gambling market.
TG.Casino’s TGC Presale of $TGC Token Paves the Way for Unique Crypto Casino Experience
TG.Casino, a first-of-its-kind licensed blockchain casino built on Telegram, commenced the public presale of its native token TGC on September 21.
The project seeks to raise up to $10 million to fund the development of a web3 casino platform with instant access for Telegram’s 700 million+ users.
Unlike most crypto casinos, TG.Casino does not require know-your-customer (KYC) verification, potentially opening the doors to a massive new demographic of players.
The Telegram-based casino will allow users to play thousands of games and earn reward tokens and NFT prizes, with TGC serving as the key utility token powering the ecosystem.
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$TGC Token Designed for Casino Rewards and Staking
The $TGC token serves as the backbone of the TG.Casino ecosystem. Players can use $TGC to play games, earn rewards, and access exclusive features.
$TGC holders can also stake their tokens to earn up to 3,233.74% APY as of writing. Over 1.2 million tokens have already been staked since the presale started.
Additionally, 40% of casino profits will go towards a $TGC buyback-and-burn scheme. This will reduce the overall token supply and distribute rewards to stakers.
As per the whitepaper, this model benefits long-term holders in the ecosystem.
Presale Raises Over $160K Just a Day After Its Release
With over $160,000 raised in just the first day, the TG.Casino token presale is off to an enthusiastic start.
This impressive early uptake shows the strength of the project’s innovative vision to merge blockchain technology with the mass reach of Telegram.
Maintaining this pace could lead TG.Casino to hit its ambitious $10 million hard cap sooner than expected, providing the ample capital required to fully develop its unique Telegram crypto casino experience and disrupt the online gambling industry.
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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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