Is Rollbit Crypto Casino Going to Zero? RLB Price Tumbles 22% as Fresh Telegram Gambling Coin Nets $1.5 Million in Investments
In a tumultuous twist, leading GambleFi token Rollbit (RLB) has retraced -22% in a sudden tumble, leaving some panicked holders asking 'Is Rollbit crypto casino going to zero'? - find out in RLB price analysis.
The sudden retracement move comes following the release of a new report entitled 'The House Always Wins' - which explored the fairness and house edge of various Rollbit games.
And while the findings generally suggested that Rollbit is a fair crypto casino, the research also highlighted a house edge as high as 5% in popular games such as X-Roulette and X-Crash.
As price action heads south, Rollbit is currently trading at a market price of $0.1499 (representing a 24-hour change of -18.71%).
The retracement move comes as last week's rally move met rejection at the $0.18 price level.
The dramatic -22% price tumble crashed down through multiple support levels, before finding a foothold back at the ascendant 20DMA.
The 20DMA has formed supportive footing to much of recent price action, so far sustaining upside momentum for all of October.
In a significant change on Rollbit's indicators, the recent retracement move has seen the RSI rapidly cool down from an overbought signal at 66.43 to a more neutral 51.52.
While the MACD has defied the downside move, remaining bullish with divergence at 0.0051.
Overall, the recent retracement - while a substantial drop - leaves RLB in healthy posture, with the RSI on the precipice of flipping bullish, and the 20DMA still showing supportive strength.
This leaves RLB with an upside target at $0.18 (a potential +20%).
While downside risk here could see RLB fall to lower support at $0.12 (a possible -20%).
Rollbit therefore carries a risk: reward ratio of 1 - an on the fence trade, dependent on
Read more on cryptonews.com
