For technical analysis, we will see Reserve is a blockchain network that allows users to buy, store, and spend US dollars on a daily basis. It is a stable coin pool that aims to minimize risks through diversification and decentralization. It acts as a safety net for your money against high inflation too. RSR is its native token that can be easily used to make payments across borders. Past Performance On March 25, 2021, RSR started trading at $0.072. As of March 31, 2021, the closing price of RSR was $0.09. Thus, in the past week, the RSR price has risen by roughly 25%. In the last 24 hours, RSR has traded between $0.084 – $0.096. https://ift.tt/39xgABM Day-Ahead and Tomorrow Currently, RSR is trading at $0.089. The price has decreased from the opening price of $0.09. Thus, the market looks bearish. The A/D indicator has started falling. Thus, whale distributions are surpassing the whale accumulations. Hence, we can expect a price pullback. Consequently, the price will dip further. The MACD and signal lines are negative. A bearish crossover by the MACD line over the signal line has occurred too. Thus, the overall market momentum is negative. Hence, we can expect the RSR price to fall further. Presently, the RSI is at 48%. It faced rejection at 36% and rallied to the current level. Thus, even though selling pressures are high, we can expect buying pressures to slowly catch up. As of now, we can expect the RSR price to drop further till buying activity overtakes the market. RSR Technical Analysis As per technical analysis, the price has fallen below the Fibonacci pivot point of $0.09. The price may soon fall below the first support level of $0.086. If the bears remain strong, then by day close, the price may fall below the subsequent support levels of $0.083 and $0.079 as well. The price has tested and fallen below 38.2% FIB retracement level of $0.089. It may soon test and fall below the 23.6% FIB retracement level of $0.088. Thus, the price downtrend looks strong and is expected to continue tomorrow as well.
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