As the GambleFi narrative continues to grip crypto markets, leading crypto gamling platform Rollbit coin (RLB) appears to be attempting a bounce back – but amid a major tumble many are asking is Rollbit going to zero?
With markets excited about the growth prospects for crypto projects taking aim at the $63Bn global online gambling space, top online casino projects have exploded across the summer tailing market leader RLB which surged +197% so far this month.
But despite the unhinged growth that could be unlocked by this emerging sector, RLB has been caught in a troubling retracement move that threatens to collapse recent strong technical structure.
RollBit Price Analysis: RLB Attempts Recovery Bounce Off Lower Tredline – Sink or Swim?
Amid major downside moves that have gripped Rollbit price action for more than 4 days, RLB is low in the trading channel at a current price of $0.15 (a 24-hour change of +4.9%).
Yet, despite the -53% retracement since the local high on August 13 at $0.285, signs of strength are appearing on the hourly chart – as consolidation above the lower trendline appears to be priming price action to push up once again.
Critically, over the past hour Rollbit has smashed back above support from a descendant 20DMA – which could provide the footing to mount a re-test of support off the 200DMA.
The last re-test of the 200DMA level on August 16 saw an impressive +60% bounce off lower trendline support reject in just three hours – despite rising up to hit $0.20.
However, technical structure on this bounce looks stronger, with double-bottomed support off lower trendline support providing a good foothold for a recovery.
And while price action has been sliding, the RSI has been cooling off – with the indicator sat level on the fence with no divergence at 50 – highlighting the make or break nature of this recovery move.
The MACD on the other-hand is showcasing bullish divergence at 0.0012, meaning RLB could resume upside momentum on the short-time frame.
With price action targeting a re-test above the 200DMA, upside targeting is at $0.20 – the resistance level that triggered the last rejection (this leaves RLB facing a possible +34% upside).
Downside risk seems limited here, with the recent double-bottomed bounce of lower trendline support suggesting $0.13 as reliable local support level (-16.25%).
This leaves Rollbit facing an alluring risk: reward ratio at 2.1 – with upside potential tantalising markets at more than double the risk.
Yet, while GambleFi remains a phenomenal play in current market conditions – offering a real and lucrative use-case for crypto technology, money-minded investors more concerned with immediate gains are locked-in on
Sonik Coin Attempts Record For Fastest $0 – $100M Market Cap Presale
As we navigate the world of meme coins, there’s always that palpable excitement of discovering the next big thing.
Today, let’s shed light on one such entrant, the Sonik Coin ($SONIK), which is not only making waves but also racing with the audacious goal of being the fastest token to hit the $100M market cap. And given the current trajectory, this aspiration may soon be a reality.
Sonik Presale ‘Gotta Go Fast’ Shoots For $100m Market Cap With Supercharged Staking
An intriguing 50% of the mammoth 300 billion $SONIK supply has been allocated for early investors, making it a limited-time golden opportunity.
With each token priced at a meager $0.000014, enthusiasts have the perfect entry point, especially before its much-anticipated debut on Uniswap post-presale.
This decentralized exchange is a powerhouse, and $SONIK’s presence there will undoubtedly amplify its visibility manifold.
But Sonik Coin is more than just another meme coin, the staking APY of an astounding 4,300% speaks volumes about its potential returns.
Staking not only adds an avenue for passive income, but its inclusion also showcases the team’s commitment to longevity and stability.
The idea? By staking, holders are encouraged to hold onto their tokens for more extended periods, thus mitigating volatile price swings and cementing a firm foundation for steady growth.
Now, let’s talk about $PEPE, Pepecoin’s astronomic growth—delivering jaw-dropping returns of over 10,000% to early backers— has set the precedent.
Given $SONIK’s innovative staking model and the infectious enthusiasm around its branding (a nod to the ever-popular Sonic the Hedgehog), it’s poised for a similar, if not more impressive, trajectory.
The transparent, community-centric vision of the Sonik Coin’s founders, paired with its tantalizing staking rewards and the buzz it has already generated, sets it apart in a sea of meme coins.
Check out the Sonik Telegram and Twitter here.
If history and market patterns tell us anything, the early bird catches the worm. Or in this case, rides the supersonic wave.
Buy Sonik Here
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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