The post Can Co-founder’s Optimistic Tweet Cause A 50% Surge In RON Price? appeared on BitcoinEthereumNews.com.

The market cap of global cryptocurrencies has surged by 1.05%, and it currently stands at $2.40 Trillion. The Ronin (RON) crypto is among the top 100 cryptos in terms of market cap. When writing, it ranks 88th among the top 100 cryptos on CoinMarketCap. The RON price has shown a resurgence possibility from the $2.20 price mark, exhibiting a 1.45% intraday growth on the daily chart, with the price traded at $2.429. When writing, RON market cap stood at $802.472 Million, with a circulating supply of 330.655 million RON. Its circulating token supply is nearly 33% of the total supply of 1 billion RON. Its volume-to-market cap ratio of 24 hours stands at 2.85%, indicating a low liquidity level in the RON cryptocurrency. Low liquidity is a sign of potentially less stable market conditions. What Do the RON Price Indicators Indicate? Its Indicators are fuzzy due to a lack of liquidity and mixed signals, as the MACD forms a bearish crossover with the histogram at -0.0541. The price is approaching the 50-day and 200-day EMAs, and the RSI at 35.34 shows a U-turn from oversold towards the overbought zone. RON/USD 1.D. price chart | Source: TradingView These technical indicators in Ronin suggest that the market sentiment is leaning toward uncertainty for the RON price. Ronin Price Action and its Price Forecast!  The Ronin (RON) displayed a significant price movement. Starting from a demand level of $0.75 in November 2023, RON displayed a substantial rally. It eventually reached $4.45 by March 13th, breaking through the resistance level of $3.5 (a barrier tested two times previously). However, the peak at $4.45 proved unsustainable, and the price began to decline on March 14th, establishing a new support level at $2.20 by June 18th. At press time, the RON price traded at $2.43 with…

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Filed under: News - @ June 20, 2024 7:18 pm