RIOT - long and medium-term plans. The technical and fundamentalHello, friends! It's Shark here, and today we'll be examining the technical and fundamental aspects of RIOT Mining Company stocks. We'll delve into both long-term and medium-term plans.
Technical Analysis:
Long-term Trading Plan (pink color), Timeframe: one month
Global support level: $1.61
Global resistance level: $36.38
Global accumulation level: $46.20
The chart indicates that the price has been in global accumulation for 3000 days with a step of 2773%. Note the global descending trend line. Currently, the price is at its resistance. The long-term trading plan suggests breaking through the global descending trend line and the asset's growth towards global highs by approximately 28,200%.
Medium-term Trading Plan (blue color), Timeframe: one week
Channel support level: $4.12
Channel resistance level: $20.83
Channel width: 405%
Mid-channel: $8.76
The price is in global accumulation, moving from support to resistance and back. Rising lows indicate an uptrend. Currently, a crucial point for the medium-term trading plan: the mid-channel level at $8.76 acts as support and has been confirmed multiple times. If the support holds and the price rebounds from the ascending trend line, there's potential for a +400% rise to the global resistance level at $46.20.
Fundamental Analysis:
Fundamental Analysis of RIOT Stock:
RIOT Blockchain, Inc. is involved in bitcoin and other cryptocurrency mining. It actively invests in infrastructure and technologies to enhance mining efficiency. Let's examine the key factors that may influence the growth of RIOT stocks, as well as historical events that have impacted its value.
Historical Events and Their Impact on RIOT Stocks:
Bitcoin's Popularity Surge: During periods of significant bitcoin price growth, RIOT stocks have also shown considerable increases. For instance, in late 2020 to early 2021, when bitcoin reached new all-time highs, RIOT stocks grew by over 1000%.
Regulatory Changes: In December 2020, news of potential cryptocurrency regulation tightening in the US led to a short-term decline in RIOT stocks. However, the company quickly recovered due to strengthened market positions and the implementation of new technologies.
Technological Innovations: The introduction of more efficient mining machines and energy management technologies allowed RIOT to increase productivity and reduce costs, positively impacting the company's financial results and stock.
Potential Events That May Influence RIOT Stock Growth:
Bitcoin Price Increase: Since RIOT is involved in cryptocurrency mining, rises in bitcoin and other cryptocurrency prices directly affect its revenues and, consequently, stock value.
Infrastructure Investments: Continued investments in new mining facilities and infrastructure development, including transitioning to cheaper and more environmentally friendly energy sources, can significantly increase the company's efficiency and revenue.
Regulatory News: Favorable changes in cryptocurrency regulation can promote RIOT stock growth, while regulatory tightening may pose short-term challenges.
Partnerships and Strategic Alliances: Forming strategic partnerships with major players in the blockchain and cryptocurrency industry, as well as potential collaborations with financial institutions, can significantly increase the company's market capitalization and attractiveness to investors.
Conclusion:
RIOT Blockchain, Inc. stocks have significant growth potential due to its position in the cryptocurrency market and active investments in technology. However, like any other stocks, they are subject to the influence of various factors, including market trends, regulatory changes, and technological innovations. Investors should carefully monitor these aspects and consider them when making decisions about investing in RIOT stocks.
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