Market & Ticker: Reserve Right – RSR/USDC

Date: 27/08/2024

Horizon / Timing:  Tactical Mid-term / 1 to 3 months

Scenario: 

RSR has been evolving in descending range since MARCH 2023. This Range is forming a base for a long-term perspective. We do expect a bullish momentum to test the upper part of the range before following the capacity of the token to exit from the pattern.

At the current level as long as 0,0040 remains a tactical support valid a larger rise towards 0,0090 is expected. To confirm the bullish exit 0,0070 must be surpassed in a daily close, on the midterm 0,013 is the standard target

Technical Key Elements:

• Range upper limit is at 0,0070
• RSI indicator is above 50% and keeps potential
• The Moving average are support
• Fibonacci key support is adjusted at 0,0040 while the Elliot wave shows upside potential towards 0,0090

Trade Idea conclusion: Buy 

• Tactical Target Max 0,013
• Tactical Target 0,0090
• Tactical key support (Pivot) 0,004 (Daily close)

Chart: Daily Basis (Candle Stick) - Logarithmic 

Indicators: Exponential Moving Average (21/34/89) - RSI (21)

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