RoninLong
"Ronin (RON) Gearing Up for a Massive Reversal – $10 in Sight?"
The chart of Ronin (RON/USD) shows key technical levels and indicators suggesting a potential reversal from the current order block zone. Here's a structured analysis:
1. Current Market Structure & Order Block Potential
Price: $1.619 (as per the chart)
Support Zone: Around $1.50–$1.60, marked by a blue order block, indicating a potential demand area.
Resistance Levels:
$2.00 (200 EMA resistance)
$2.50 (previous liquidity zone)
$3.50 & $4.50 (major resistance levels)
Above $4.50, the price could experience strong upside momentum towards $8 or even $10.
2. Moving Averages (EMA)
50 EMA (yellow) at $1.833: Currently acting as resistance.
200 EMA (pink) at $2.005: A crucial breakout level for confirming a bullish reversal.
3. RSI (Relative Strength Index)
Current RSI: ~39.78 (neutral to slightly bearish).
Oversold Region (~30 RSI) is close, suggesting a potential bounce.
Confirmation: RSI crossing above 50 will signal strength in momentum.
4. Key Triggers for Bullish Reversal
✅ Rebound from the current order block (~$1.50–$1.60)
✅ Break and hold above 50 EMA ($1.83) and 200 EMA ($2.00)
✅ Volume increase to confirm buying interest
✅ RSI pushing above 50-60 range
5. Potential Targets & Pathway
1️⃣ Short-term target: $2.00 (EMA 200 resistance)
2️⃣ Mid-term: $2.50 and $3.50 (historical liquidity zones)
3️⃣ Long-term: $4.50 (breakout level, unlocking $8–$10 potential)
Final Thoughts
If the order block holds, we could see a bullish reversal leading to higher highs.
A break below $1.50 may invalidate this setup, leading to a bearish continuation.
Volume confirmation and market sentiment will play a key role.
1. Current Market Structure & Order Block Potential
Price: $1.619 (as per the chart)
Support Zone: Around $1.50–$1.60, marked by a blue order block, indicating a potential demand area.
Resistance Levels:
$2.00 (200 EMA resistance)
$2.50 (previous liquidity zone)
$3.50 & $4.50 (major resistance levels)
Above $4.50, the price could experience strong upside momentum towards $8 or even $10.
2. Moving Averages (EMA)
50 EMA (yellow) at $1.833: Currently acting as resistance.
200 EMA (pink) at $2.005: A crucial breakout level for confirming a bullish reversal.
3. RSI (Relative Strength Index)
Current RSI: ~39.78 (neutral to slightly bearish).
Oversold Region (~30 RSI) is close, suggesting a potential bounce.
Confirmation: RSI crossing above 50 will signal strength in momentum.
4. Key Triggers for Bullish Reversal
✅ Rebound from the current order block (~$1.50–$1.60)
✅ Break and hold above 50 EMA ($1.83) and 200 EMA ($2.00)
✅ Volume increase to confirm buying interest
✅ RSI pushing above 50-60 range
5. Potential Targets & Pathway
1️⃣ Short-term target: $2.00 (EMA 200 resistance)
2️⃣ Mid-term: $2.50 and $3.50 (historical liquidity zones)
3️⃣ Long-term: $4.50 (breakout level, unlocking $8–$10 potential)
Final Thoughts
If the order block holds, we could see a bullish reversal leading to higher highs.
A break below $1.50 may invalidate this setup, leading to a bearish continuation.
Volume confirmation and market sentiment will play a key role.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.