The Rollbit Coin price dropped more than 17% over the past 7 days to trade at $0.1852 as of 1:00 am EST as large investors ditch RLB for a promising new cryptocurrency.
Whale Buys Into TG.Casino
On-chain data shows that a whale had recently cashed in a portion of its Rollbit Coin bag and deposited the value into TG.Casino’s presale. In one of the transactions, this particular whale bought $50,000 worth of TG.Casino’s native token TGC, through its presale, and staked the tokens immediately.
Rollbit Coin Price Breaks Out Of Positive Channel
Daily chart for RLB/USDT (Source: TradingView)
The Rollbit Coin price was at risk of testing the key support level at $0.1576. This was after the $0.2683 resistance level rejected the altcoin’s price over the past few days. Following the rejection, the cryptocurrency dropped below a medium-term positive price channel formed on its daily chart over the past 2-3 weeks.
If the Rollbit Coin price breaks below the $0.1576 mark within the coming 72 hours, then traders may continue to exert pressure on the altcoin’s price. This potential sell pressure could lead to the cryptocurrency’s value falling to $0.1159 in the short term.
Possibility Of New All-Time High
Contradicting this bearish thesis is a falling wedge pattern that has emerged on the cryptocurrency’s daily chart. Should the Rollbit Coin price break above this chart pattern, it may continue to climb to the aforementioned $0.2683 mark.
If bulls decide to drive the altcoin’s value toward the upside, it could flip the major barrier into support. Surpassing this threshold would most likely lead to the Rollbit Coin attempting to set its next all-time high.
However, traders and investors will want to note that indicators on the cryptocurrency’s daily chart favour a bearish short-term scenario. The Moving Average Convergence Divergence (MACD) indicator showed that the cryptocurrency’s negative trend was growing stronger.
With the MACD line breaking below the MACD Signal line, traders may bet against the Rollbit Coin price, believing its negative trend may continue.
Adding credence to the bearish thesis is the daily Relative Strength Index (RSI) indicator. Sellers seemed overpowering bulls, as the RSI line broke below the RSI Simple Moving Average (SMA) line. Bears’ strength is also growing stronger, which is evident by the negative slope of the daily RSI line.
These bearish flags may also be caused by investors turning to TG.Casino, which has already surpassed the halfway point of its presale fundraising target.
A Crypto Gambling Project On The Cusp Of Something Big
We have passed $2.6 million raised in presale!
One step closer to our FINAL goal⭐ pic.twitter.com/EfO9jAPmWy
— TG Casino (@TGCasino_) November 19, 2023
TG.Casino, a cryptocurrency gambling platform offering players up to 25% cash back, has raised more than $2.6 million through its presale. This puts it more than halfway to its final target of $5 million.
Its potential is huge given the valuation of the broader casino market, which stands at a whopping $263.3 billion.
With TG.Casino’s native token selling for a mere $0.16, early-stage investors could enjoy almost unimaginable returns on their investments given the potential for the project to expand.
Attractive Staking Yields To Go With Large Potential
TG.Casino currently offers investors who stake tokens purchased during this presale an Annual Percentage Yield (APY) of 216.95%. Anyone who stakes their tokens will immediately begin earning daily rewards and can access them instantly.
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