Is It Too Late to Buy Rollbit Coin? RLB Price Rallies Up 24% and New Telegram Casino Startup Raises $350,000
Rollbit (RLB) has surged +24% in a dramatic upside move, as network growth and high GambleFi revenues trigger renewed interest in leading iGaming token - but is it too late to buy Rollbit Coin?
The strong recovery move comes as RLB battles a tight range between the 20DMA support and upper trendline resistance - a move fuelled by bullish growth on the Rollbit platform.
In a testament to steady growth, active on-chain Rollbit users now exceeds 10,000 for the first time.
And this comes amid staggering revenues for the top-flight token - which have seen $38m in monthly revenues and an impressive 1.265% of supply burned.
Following the big move, Rollbit is currently trading at a market price of $0.163 (representing a 24-hour change of +20.92%).
This comes after RLB pushed up on September 28, amid broader upside movements in crypto markets, to reclaim strong support from the 20DMA - a moving average which had limited price increases for 27-days.
The weekend and this week have seen price action caught in a tight battle - caught between a rock (the 20DMA) and a hard place (the upper trendline resistance).
Bolstered by bullish network growth, Rollbit bulls have been pushing to breakout of the current trading channel, however, a rapidly heating RSI could cast a shadow over RLB's poised structure.
This leading technical indicator is currently stood at 56.79 - heating up on the recent move, suggesting that further consolidation here could be necessary.
While the MACD on the other-hand has flipped to bullish divergence at 0.0065 - emphasising the upside momentum underpinning price action.
Overall then, Rollbit has everything to play for in current posture, with price action and RLB bulls seemingly intent on driving a break-out move - all eyes
Read more on cryptonews.com
