Reserve Rights Token (RSR/USD) was trading lower by over9% on Tuesday. However, RSR has risen by over 60% overall this week. It looks like Tuesday’s Rückgang was a retest of the breakout zone. This could be a great opportunity for investors who missed the rally to get in. RSR looked weak earlier this month after falling over 30%. However, after a 60% price increase in just two days, the token has regained its position and looks good for the coming weeks. Should you buy RSR from the retest?
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Even after the bullish breakout from a symmetrical triangle earlier this month, RSR lost investor confidence as the value had fallen by over 30%. However, RSR did not take much time to make a strong comeback to the level at which it was previously traded.
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RSR had a strong resistance zone at $ 0,049 on Monday, but it was broken through. RSR has been rejected by this zone several times in the past. Therefore, a breakout from this zone could bring enormous returns.
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It looks like hätte RSR retested the trendline on Tuesday, so all long entries should be avoided until a clear reversal is seen.
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A reversal from the level of $ 0.49 shows a bullish trend and bests the breakout.
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A target of $ 0.61 can be set, followed by $ 0.65.
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Investors should be careful and set a stop loss below the resistance zone.
Should you buy the Reserve Rights token after its retest? appeared first on Coin Hero.