- RIOT price is observing an upside momentum as BTC has recovered to $22000.
- Technical indicators of RIOT are favoring an upside trend. It is currently trading near $6.04 with a gain of 0.64%
Riot Blockchain Inc. specializes in blockchain technology and cryptocurrency mining. The company’s stock, ticker symbol RIOT, has had a volatile history, with significant gains and losses in value over the past few years.In the past, Riot has been criticized for its lack of transparency and questionable business practices. However, the company has recently made efforts to improve its image and focus on legitimate blockchain-related endeavors.In the short-term, the value of RIOT stock may be affected by the overall market sentiment towards cryptocurrency and blockchain technology. If these industries continue to grow and gain mainstream acceptance, Riot’s stock may see an increase in value. However, if there is a downturn in the market, the stock may decrease in value.The company is currently involved in several projects related to cryptocurrency mining, blockchain technology, and digital assets.
RIOT has a market cap of $1.05 Billion and has a positive EPS as per the yahoo finance.It has seen a fall of more than 70% from its 52 week high. Various analysts are expecting strong growth in the near future.
Bulls Of RIOT Are Favoring Strong Momentum
The weekly technical chart of RIOT suggests a weak upside trend in price. On the daily chart it is currently trading near the value of $6.23 with a gain of 0.28% in the intraday session. Resistance of the RIOT stock price can be seen near $10.Meanwhile the support of the asset price can be seen near $4.It is trading above the 50 and 100 Daily Moving Average.There can be a positive crossover in the price which can push it to a new high in the future.
MACD of the asset price hints its presence in the overbought zone. It suggests a weak upside move for the near future.
Conclusion
RIOT stock price has seen a rise with the upside in Bitcoin. RIOT stock price is currently in a consolidated trend but can move to a new high.
Technical Levels
Major Support:$4
Major Resistance:$10
Source: https://www.thecoinrepublic.com/2023/01/26/riot-stock-price-prediction-is-the-winter-for-riot-stock-price-over/