• The RONIN coin has shown a positive trend and is on track to surpass the $4 mark.
• Buyers are making efforts for a rebound and are aiming to surpass the 20-day exponential moving average (EMA).

The Ronin price has demonstrated strong buying momentum and has recently retested the 20-day EMA. Despite a dip below the $4 mark in a profit booking phase due to a market downturn, the token maintained its gains and indicated a bullish outlook. The current trend remains intact, suggesting that the coin might perform well and potentially exceed the $5 mark in the near future.

Currently, the price of Ronin coin (RONIN) is positioned at $3.74, showing a 1.31% intraday increase, implying a neutral stance on the charts. With a monthly return rate of 30.90% and a yearly return rate of 57.25%, the RONIN/BTC pair stands at 0.0000564 BTC, while the market cap is $1.14 billion. Analysts are optimistic about the future performance of the RONIN coin and anticipate that it could soon rise above the $4.50 mark.

RONIN Price to Volume Profile On Daily Charts

The chart above illustrates the correlation between the Ronin price and the volume profile, indicating a bullish trend. The coin has shown higher highs with a rising channel pattern. The trading volume has maintained an average level, recorded at approximately 17.17 million.

Price Volatility and Weighted Sentiment Analysis

Despite the price increase, price volatility remains average, near 0.0099, indicating neutrality. However, the weighted sentiment remains in the negative region at around -0.18, reflecting a pessimistic outlook.

Social Dominance and Twitter Follower Outlook

Social Dominance data shows a neutral outlook hovering around 0.086%. On the other hand, X follower data reveals a significant increase of over 87% to 502, suggesting a surge in investor interest in X.

What Ronin Price, RSI, and Technical Data Indicate

The Ronin price is currently above the 50, 100, and 200-day EMAs, indicating buying momentum. While below the 20-day EMA, the coin has retested the trendline support zone near $3.50 and may experience a rebound soon. The RSI is in the overbought zone, signaling neutrality. The MACD indicator shows a bullish crossover, with green bars on the histogram indicating strong performance.

The total supply of Ronin coin is 1 billion, with a volume-to-market cap ratio of 0.0151. It stands at 100 in terms of market cap in the global crypto market.

Summary

The Ronin coin price exhibits bullish accumulation and has maintained a bullish trend for several sessions, retesting the 20-day EMA. It aims to surpass the 52-week high of $4.45 in the coming sessions.

Technical Levels

Support Levels: $3.20 and $3

Resistance Levels: $4 and $4.40

Disclaimer

The opinions presented in this article are for informational purposes only and should not be considered financial or investment advice.