A falling wedge pattern on the daily chart of Radiant Capital (RDNT) might indicate potential bullish movement in the future, suggesting a reduction in downward momentum.
Technical Analysis of RDNT Movements
A recent post by Alpha Crypto Signal highlighted the ongoing formation of the wedge. This pattern typically precedes an upside breakout as buying pressure increases. The Relative Strength Index (RSI) at 28.56 suggests oversold conditions, raising the probability of a price rebound.
Key Support and Resistance Levels
Market data indicates strong buyer support at $0.0300-$0.0310. A break above could see the price challenge resistance at $0.0400-$0.0435, aligned with the 25-day Simple Moving Average (SMA). A successful move above this range might push RDNT towards mid-term targets of $0.0600-$0.0800.
Conclusion and Possible Developments
The RDNT price stands at $0.03276 with a 5.16% increase over the last day and 2.89% over the week. Traders are watching for a volume rise and RSI recovery as breakout confirmation signals.
Future RDNT movements will be decided in the next sessions. A wedge breakout could lead to significant upward movement if backed by volume.
