This week’s RSR technical analysis will help you understand more about the dual-token blockchain. Reserve Rights is a dual-token blockchain network. It has two stablecoins – RSV and RSR. RSV is backed by assets governed by smart contracts whereas the RSR token’s prime purpose is to keep the RSV token stable at $1 through arbitrage opportunities. Community members enjoy voting rights on governance proposals in this ecosystem. Past Trends On March 18, 2021, RSR started trading at $0.081. As of March 25, 2021, RSR closed at $0.074. Thus, in the past week, the RSR price has declined by approximately 9%. In the past 24 hours, RSR has traded between $0.067 – $0.079. https://ift.tt/3cm5Nw7 Day-Ahead and Tomorrow Currently, RSR is trading at $0.076. The price has risen from the opening price of $0.073. Thus, the market seems healthy. The A/D indicator is rising with intermittent falls. Thus, there is a tussle between accumulations and distributions, but overall whale accumulations are dominating. Thus, high buying activity will lead to a further rise in the RSR price. The MACD line has turned negative and soon the signal line will also enter the negative zone. A bearish crossover by the MACD line over the signal line suggests that the market momentum is turning bearish. Hence, a trend reversal is on the horizon and we can expect a price pullback. RSR Technical Analysis Currently, the RSI is at 47%. It faced a bullish swing rejection at 40%. Thus, buying pressures are gradually overtaking the market. Hence, we can expect the price uptrend to continue with intermittent temporary price pullbacks. At present, the price is nearing the first Fibonacci pivot resistance level of $0.078. As the overall price trend is bullish, we can expect the price to surpass this level in some time. The price has tested and broken out of the 23.6% FIB retracement level of $0.076. Thus, the price uptrend in the technical analysis is strong enough to sustain today and tomorrow. However, brief price dips cannot be ruled out as a part of the market price discovery process.
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