$RDNT The rapid price increase today suggests a strong bullish momentum in the very short term (past 4-10 hours). The significant volume spike supports this, often indicating a breakout or speculative surge.
Momentum Indicators:
While I don’t have real-time Relative Strength Index (RSI) data, the rapid price and volume increase suggest RDNT could be approaching overbought territory in the short term (e.g., RSI > 70). However, without a chart, this is speculative. Traders should monitor RSI on a 1-hour or 4-hour timeframe to confirm.
Support and Resistance Levels
Support:
Recent consolidation range bottom around $0.03246, noted as an entry point in a February 14 scalp long setup . This held prior to today’s breakout.
A deeper support level from prior analyses was around $0.06089, but today’s price is well below that, suggesting those levels are no longer relevant in the current context.
Resistance:
Immediate targets from today’s pump could align with prior scalp targets: $0.03741 .
If momentum continues, historical resistance levels from October 22, 2024, suggest $0.06340 and $0.06600 as next hurdles, though these were set in a different market phase.
Volume and Market Activity
The extreme volume increase (over 1100% in 10 minutes and 4295% in 4 hours) indicates either a breakout event or potential pump-and-dump dynamics. High trade frequency (277.4K trades, +280.53% in 24 hours) supports this. Such spikes often precede volatility—either a sustained move or a sharp reversal.
Chart Patterns
Breakout Potential:
Today’s surge follows a period of consolidation. The rapid move above this range suggests a bullish breakout, but confirmation requires sustained trading above $0.03741-$0.0395.
Prior Bearish Pattern:
The Head & Shoulders breakdown had signaled a bearish continuation, but today’s action could invalidate that if the price holds above key levels.
Not Financial Advice, DYOR!!