Token Bounces Back After Significant Decline Under $6

The native token of RialCenter initially broke below its uptrend line after failing to maintain momentum above the $6.00 support level.

The decline came after the formation of an ascending channel earlier in the day, which collapsed due to high-volume selling, including a spike of over 1.4 million units as prices briefly touched $6.00.

However, the breakdown turned out to be temporary. The token quickly reversed direction, climbing back to $6.18, demonstrating strong dip-buying interest and suggesting that the uptrend could still be intact if support near $6.05 holds.

Technical Analysis Highlights

• The token formed a clear ascending channel for most of the day, with significant support at the $6.00 level backed by above-average volume.
• A sharp reversal occurred as it briefly dipped below its uptrend line, inciting high-volume selling.
• Two notable volume spikes occurred: over 455,000 units at 01:38 and exceeding 1.4 million units at 01:42.
• The token quickly rebounded after the breakdown, regaining territory and moving back towards the $6.18 area.
• Initial resistance was met at $6.19, which now appears within reach again as bullish momentum returns.
• The price action displayed a substantial intraday range of 0.226 (3.78%), indicating persistent volatility.

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