Ribbon Finance should have a clear pathway to another 100% increase here. It's earnings are very high compared to its market cap. Furthermore, a clear breakout is occurring. Keep your eyes peeled!
It's #DEFI
Defi season hasn't really kicked off yet --- but it will
I mean that is literally one of th big Goals of #crypto right?
To decentralise Finance?!
I've mentioned Ribbon previously as a token to watch
So we have a potential breakout & neckline retest going on right now
Could be an opportunity.
As always
your risk
your reward
Upon analyzing the four-day timeframe, it is apparent that Ribbon Finance's token price has undergone a significant decline. Despite this, the protocol appears to have promising potential, leading to the possibility of a favorable long position while DeFi investments are currently out of favor with investors.
However, it is essential to note that there are some...
RBNUSD is showing signs of local M bottoming. Of course it depends on how the macro market behaves, but volume looks strong and price action is much stronger than other coins, which have mostly been making lower lows. This is on my radar, let's see what happens.
$RBN is bearish on the HTF, it has formed a head and shoulder pattern and trying to form a cup and handle formation which are all bearish, I expect it to breakdown the current resistance and continue its downward movements soon. Targets are shown in the chart.
Here's a breakdown of Ribbon Finance (RBN) volume-spread analysis. All signs are pointing north. Let's see if it can keep the momentum and take us up to the golden Fibonacci profit target. I set limit sells at the .272 and .618 junctures and don't risk holding past the bear orderblocks hovering above those points, especially above the 1.618% which closes out...
$RBN is trading within a range, with range high and low at $0.60477 and $0.16740. It can go both ways, depending on #BTC's movements. If the support holds, I expect a reversal to the range high price and if it doesn't, a breakdown of the support.
Last Week's chart is still valid. For this week, price has to retest and break the support now resistance at $1.295 range, or retest the support at $0.81, I expect a bearish move as shown in the indicator, confirmation would be gotten from $BTC weekly close.
Not many changes to the $Rbn chart during the week. Still bullish on the HTF, so the price has to break the resistance at $2.53, and if successful, retest the ATH or retest and break down the support at $1.29 for a bearish move.
Price is on recovery mode. Showing long on the 4HR timeframe, the support at the $0.82 mark is holding nicely, so I expect a retest of the resistance at $1.29, if it breaks it, then hopefully we have the needed push to retest the next resistance.
The trend is still bearish on the higher timeframe. Currently retesting the support at $0.81 for the second time, breaks the support and downtrend continues or breaks the resistance at $1.29 for a bullish course.
NB: I am new to charting and open to corrections. Thanks
Ribbon Finance (RBN) is at a critical support price level, and lagging behind all other Alts in mean-reversion after todays bloodbath.
STRONG BUY.
Thanks me later.
