$RONIN Pulls Back After Rally: Watch for Support and Recovery
$RONIN is trading at $2.236 on the 15-minute timeframe, following a sharp decline from its recent high of $2.320. The price has tested support near $2.230, showing early signs of stabilization after the pullback. If buyers step in at this level, RONIN could attempt a short-term rebound toward immediate resistance zones.
Traders can consider an entry between $2.230 – $2.240, targeting $2.250, $2.265, and a retest of $2.280 for short-term profits. However, if RONIN fails to hold above $2.230, a stop-loss at $2.215 is essential to limit risk.
With RSI hovering around 29, indicating oversold conditions, and MACD showing bearish momentum, this setup presents a potential opportunity for reversal trades. Monitor volume closely for signs of buying interest as RONIN approaches a critical support zone.
