Is More Downside Move Possible?

The Rollbit coin stays under modest bearish pressure and resumed its rally towards the south on Thursday. The RBL/USD pair stayed on the back foot for the second consecutive session after the bulls failed to extend its journey to the higher levels.

Currently, the daily chart portrays the crypto as neutral to downward biased, with the RBL price headed downwards after suffering rejection near the 50-Day EMA on the daily chart. The short term outlook illustrates that the crypto has downside potential till the recent swing at $0.108.

The bulls are on the backfoot and are losing steadily. The demand zone shifted lower down. The recent demand zone at $0.108 has already been tested multiple times.

Now, if the sellers are able to break down below the recent low, then it may lead to a long unwinding and the bulls may have to shift their positions at the lower levels. 

At the time of writing, the RLB crypto was at $0.119 with a swift intraday loss of 0.66%. It has a circulating supply of 3.296 Billion RBL tokens against a total supply of 5 Billion tokens. The circulating supply is 65.9% of the total supply.

Rollbit Coin Price Trend Analysis

Moreover, the price analysis of the past couple of months shows that RBL crypto has been in a declining phase after the breakdown of consolidating in November 2023. Since then, the price has been declining.

Recently, the buyers attempted a recovery from a low of $0.108 in mid-January as the price surged. However, the crypto suffered a sharp selloff above the 50-Day EMA and slumped back to the previous buying zone.

Currently, the price hovers above the recent demand zone seeking for buying volume to hold higher. On the other hand, sellers are comfortably dragging the price on the lower levels.

Now, if the selling pressure resumes, it may lead to the breakdown of the recent support at $0.108 and new swing lows might be observed on the chart.

Rollbit Coin Price Prediction for February 2024

The positive view of analysts predicts an upside potential of over 16.28% by February end, which could take the Rollbit coin price near the 50-Day EMA at $0.136. On the other hand, the bearish view of analysts predicts that the price could drop near a round level of $0.10 after the breakdown of the recent support.

Rollbit Coin Price Prediction for 2024

The price prediction for 2024 shows that the Rollbit coin may advance to a high of $0.198 by the end of 2024. The less optimistic analysts estimate a price target of $0.164 by the end of the year.

Rollbit Coin Price Prediction for 2025

As per the most positive view of our analysts, the price may hit the $0.304 mark, suggesting an upside potential of 159.34% by 2025. The pessimistic view is that the price could reach $0.219 by the end of the financial year 2025.

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. 

Anurag is working as a fundamental writer for The Coin Republic since 2021. He likes to exercise his curious muscles and research deep into a topic. Though he covers various aspects of the crypto industry, he is quite passionate about the Web3, NFTs, Gaming, and Metaverse, and envisions them as the future of the (digital) economy. A reader & writer at heart, he calls himself an “average guitar player” and a fun footballer.