In technical analysis, Reserve Rights is a blockchain network that pools stable coins to decrease risks through diversification and decentralization. It can be used by a layman to buy, hold, and spend US dollars in electronic form. It is a payment mechanism that can be easily used across borders for digital currency transactions. Past Performance On April 9, 2021, RSR started trading at $0.083. As of April 15, 2021, the closing price of RSR was $0.1. Thus, in the past week, the RSR price has surged by approximately 20%. In the last 24 hours, RSR has traded between $0.095-$0.102. https://ift.tt/3uQ6Fzu Day-Ahead and Tomorrow Currently, RSR is trading at $0.096. The price has fallen from the opening price of $0.1. Thus, the market seems bearish. The MACD and signal lines are positive. A bearish crossover by the MACD line over the signal line has occurred. Moreover, both the lines are close to the zero line and may change signs soon. Thus, the overall market momentum is bearish and we can expect a price pullback. The OBV indicator is tapering downwards. Thus, selling volumes are much higher than buying volumes. High sell-offs will exert downward pressure on the RSR price. Hence, we can expect the RSR price to go down further. Currently, the RSI indicator is at 58%. It faced rejection at 42% and rose to the current level. This also implies that buying pressures are slowly mounting. Hence, we can expect the RSR price to start rising in some time. RSR Technical Analysis As per technical analysis, the price has fallen below the Fibonacci pivot point of $0.099. As the oscillators have shown bearish signals, we can expect the price to soon fall below the subsequent support levels of $0.096, $0.094, and $0.091 respectively. The price has tested and fallen below 23.6% FIB retracement level of $0.096. It is soon expected to fall below the 23.6% FIB extension level of $0.092. As of now, the bears are very strong. Hence, we can expect the price downtrend to continue today as well as tomorrow.
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