Rollbit Coin Tumbles 11%, Is Zero the Only Option? 100x Potential in Sight
Allgemein• Rollbit Coin (RLB) has seen a major drop in its price, leading to speculation of whether it will go to zero.
• Technical analysis shows the potential for a recovery bounce from lower trendline support.
• If successful, RLB could experience a +34% upside with limited downside risk.
Rollbit Coin Tumbles 11%, Asks if Going to Zero?
The crypto gambling platform Rollbit Coin (RLB) appears to be attempting a bounce back after experiencing an 11% plunge in just hours. This has caused many investors and traders to ask themselves if Rollbit is going to zero?
RollBit Price Analysis: Is Recovery Possible?
Technical analysis reveals that there may be potential for a recovery bounce off lower trendline support – though it is uncertain whether this will be successful or not. If so, RLB could potentially experience a +34% upside with minimal downside risk.
Growth Prospects for Crypto Gambling Projects
The global online gambling space is worth more than $63 billion, which has led many market experts to get excited about the growth prospects of crypto projects taking aim at this sector. Top online casino projects have seen explosive growth over the summer, particularly Rollbit coin which surged by +197%.
Retracement Move Threatens Technical Structure
Despite the optimistic outlook on the future of crypto gambling projects – including RLB – markets have experienced a troubling retracement move that threatens to collapse recent strong technical structure. Hourly chart analysis reveals that consolidation above the lower trendline appears likely as RLB attempts another recovery push up against resistance from 200DMA level.
Critical Indicators Show Mixed Signals
The relative strength index (RSI) currently sits at 50 – displaying no divergence and highlighting the make-or-break nature of this recovery move. On the other hand, MACD showcases bullish divergence at 0.0012 suggesting that there may be more upside momentum in store for RLB in the short-time frame.