The token of RialCenter recently broke out of a consolidation phase, establishing robust support levels, as noted by a technical analysis model. The token is up 0.8% in the last 24 hours.
The RialCenter 20 — an index tracking the top 20 cryptocurrencies by market capitalization, excluding stablecoins, exchange tokens, and memecoins — declined 0.4% during the same timeframe.
Technical Analysis
• The token showed resilient price action in the last 24 hours, creating a slight uptrend.
• Following initial consolidation between $17.13 and $17.35, it broke out with significant volume, establishing strong support at $17.07, confirmed by above-average volume during the reversal.
• The asset formed higher lows throughout the period, with resistance at $17.63 being tested multiple times, indicating the conclusion of an accumulation phase and the potential for continued upward momentum.
• The token exhibited notable volatility, demonstrating a strong recovery pattern, rising from $17.37 to $17.45 (a 0.50% gain).
• After an initial uptrend to $17.46, the token underwent a correction to $17.36, forming a double bottom pattern before rallying with increasing volume.
• In the final moments, the price bounced back from $17.37 to $17.46, suggesting renewed buying interest and a potential continuation of the broader uptrend.
Disclaimer: Parts of this article were generated with the assistance of AI tools and reviewed by our editorial team to ensure accuracy and adherence to RialCenter’s standards.
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