Could Ronin Crypto Fly 30% on A Sustained Move Above 20 EMA?

The Ronin (RON) crypto looks to expand its losses on the third consecutive day as the morning hours indicated the sellers’ dominance over the charts. The price has headed lower after the buyers failed to gain traction near the previous highs. 

However, the recent selloff may still be considered as a pullback. Despite the resumption of the selloff in the last couple of sessions, the short-term price structure has yet to be invalidated. The price still trades in a neutral to bullish zone.

The 20-day EMA has also been acting as a dynamic support in the short term. The short-term buyers have established themselves at the lower levels near the 20-day EMA, which may drive the price to a higher level. 

However, the sellers are attempting to establish themselves near the recent swing high and a round level of $3.5 level. 

Has the Ronin Crypto Turned Bearish in the Short Term?

The selloff from the upper levels in the last couple of sessions has lowered the price and trimmed off the earlier gains. The short-term trend still stays on the positive side until it trades above the crucial buying zones. 

On the lower side, the $2.8 level and $2.5 level may act as a critical level from where the crypto may halt its fall on the lower side and turn around. If the buyers make a comeback and the price bottoms out, a bullish wave may be observed on the charts and it may cause the price to surge higher. 

Short-term traders and Investors may target upper levels of $3.5 and $4, suggesting a potential gain of 30% on the higher side. 

Ronin Crypto Technical Overview

RON crypto price hovers above the 20-day and 50-day EMAs, indicating no major problems on the selling side. The buyers may keep entering at the lower levels until the price stays above the key EMAs. 

The RSI analysis shows a neutral to positive outlook as both the RSI and 14-day SMA line are placed above the mean line. Also, a divergence is observed on the charts, which might be a concern for the buyers if the RSI line drops below the mean line. 

Ronin Price Prediction February 2024

The short-term price prediction of the RON crypto indicates an upside potential of nearly 30% on the higher side if the price bounces back higher from the 20-day EMA. It may drive the price to the higher levels of $3.5 and $4. 

The bearish view of our analysts in the short term shows that the crypto may crash to the lower demand zones of $2.4 and $2 if buyers fail to hold the price above the $2.8 level.  

Ronin Crypto Prediction February 2024

The most bullish observation of our analysts assumes that the RON crypto may attain a high of $5.65 by the end of the financial year. On the flip side, the less optimistic view of analysts expects a price target of $4.6 level. 

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss. 

Amanda Shinoy is one of the few women in the space invested knee-deep in crypto. An advocate for increasing the presence of women in crypto, she is known for her accurate technical analysis and price prediction of cryptocurrencies. Readers are often waiting for her opinion about the next rally. She is a finance expert with an MBA in finance. Quitting a corporate job at a leading financial institution, she now engages herself full-time into financial education for the general public.