Ronin (RON) Upward Bounce Remains Insufficient

The Ronin token has recorded an upward price rebound of 7.09% at the time of writing. While this was enough to place the token in second position on the daily list of top-performing cryptocurrencies, it appears to have had only a limited impact on the market’s broader price trajectory. More details are outlined below.

RON Statistics

Current Price: $0.1357

Market Capitalization: $99.46M

Circulating Supply: 729.05M RON

Total Supply: 1B

CoinMarketCap Rank: 261

Key Levels

Resistance: $0.1500, $0.1750, $0.2000

Support: $0.1250, $0.1000, $0.0750

Ronin Maintains Its Bearish Trajectory

Overall market sentiment suggests that bears remain largely in control. The most recent price candle on the RON/USDT, representing the ongoing session, appears bullish and strong.

However, the market remains under significant pressure, which has forced price action back below the 9-day Exponential Moving Average (EMA). As a result, the latest candle shows a long upper shadow.

Meanwhile, the Stochastic Relative Strength Index (SRSI) lines are rising sharply from the oversold zone, despite the downward pressure seen during the current session. This lightly suggests that bullish forces are still actively pushing against prevailing headwinds.

RON’s Bearish Rejection Clearly Portrayed

On the Ronin 4-hour price chart, price action has moved above the 9-day Exponential Moving Average (EMA). However, the most recent candle is a doji and is hovering just above the 9-day EMA curve.

This movement appears to be occurring near a psychological resistance level around $0.1400.

At the same time, the SRSI lines continue their upward trajectory after moving above the 80 threshold. Therefore, as long as price action remains above the 9-day EMA, the market may attempt another push to decisively breach the $0.1400 price level.

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