#RDNBTC #cryptocurrency #RDN good for a swing here on bullishsigns of RSI breakout and supporting at previous support zones. Risk/reward isn't the best compared to other plays but risk levels easily identified here.
RDNBTC
Raiden Network VS Bitcoin Trade SetupRaiden Network Token has been trading between 62k and 13.5k satoshi during the past three months. Recently it found the support at 30k satoshi where it rejected the 127.2% Fibonacci retracement level applied to the corrective wave after the uptrend trendline breakout. At the same time, bullish divergence was formed by the RSI oscillator, suggesting the beginning of an uptrend.
However, today RDN/BTC found the resistance at 8/1 Gann Fan trendline which is being rejected. In order for the uptrend to be confirmed, break and close above 40k satoshi is required. When/if that happens the doors for further growth should be opened and the price could jump towards 75k satoshi resistance, confirmed by two Fibonacci retracement levels.
On a downside, if the price will not manage to break above 40k resistance, Raiden could get back to the 30k support and then even back to 13.5k support.
RDNBTC - solid fundamentals and profit potentialI see that RND has completed the 2nd wave and is legging up for the 3rd.
The volume is picking up and the indicators on the daily are good.
I am curious if we will see a breakout from the current resistance and will see a completion of the 3rd wave - where I set my first target.
Good luck!
RDN/BTC Break out can happen!Symmetrical triangle pattern shown. Indicators look ok. A break out expected.
rdnbtcthere is end of the triangle.Also price is at very important support. macd and rsi confirmed to us . rise will be soon
rdnbtcthere is end of th triangle.Also price is at very important support. macd and rsi confirmed to us . rise will be soon
RDN- what may be happening for the next 24 hours. Looking at the trend lines looks like there may be a good point to get in for those who haven't yet. For those accumulating fill your final order around .00037168. 24 hr Price target is around .00050
(This is for myself, I am learning TA and want to put some recently learned tips and principals. Feel free to comment what you think and if you have any tips and words of advice)
Raiden NetworkRaiden will go for a re-test of resistance soon! We can observe and look for the possible break-up up! Indicators on the daily are not great yet! So we can bounce and consolidate for 2 more days! its worth getting a position and catching the upside to the first resistance!
"The killer application" of Ethereum family!"The Raiden Network is an off-chain scaling solution, enabling near-instant, low-fee and scalable payments."
Reads the Raiden website.
Fundamental
I've had Raiden for a decent amount of time now ( added to portfolio spreadsheet 6 December ), and while it is up, it has not impressed. If you consider the growth in the overall market it should have done much better.
But let's focus on the future. I believe Raiden could have a good one. And if you're not already in, I think Raiden is undervalued and a good buy for the day.
So.. What's attractive about the Raiden Network?
It's Ethereums try for an off-chain solution, the competitor of Lightning Network sort to speak! (read Buterin's blog post about scaling)
And it's needed. People are pouring into crypto, and the tech havent been able to keep up.
It's expensive to move money around this ecosystem now, atleast if you dont really know what you are doing.
What about Plasma, what if it replaces Raiden?
Thats far into the future and have to be addressed when the time is right. But I concluded with FUD after researching the matter.
My portfolio is not very connected to the Ethereum family.
As I am not very bullish on Ethereum as a whole.
Raiden is my counterbet, sorta.
Sidenote:
Notice how the major coin pumps lately have happened on Binance ? (TRON, VERGE, AERON etc..)
It's because that's where the new money are pouring. It's one of the few that has open sign-ups and a lot of volume.
In the next weeks when I eventually go hunting for new coins, Binance will be my playfield.
Raiden is on Binance btw ;)
Technical
Charting these BTC pairs is not my favorite thing to do but lets what I got :)
I think we could see an ordinary impulse wave from Raiden, and I marked the areas where I think the highs and low could form.
BTC movement plays a large role in these pairs, but I've laid out my best bet on what could happen.
Target for Raiden is 20-30 USD . That would mean 1-1.5B marketcap , which seems realistic to me.
It's not a very large timeframe I have put this in, but lets see what happens, and I'll keep updating along the way :)
