- Ronin’s price shows bullish potential, with support at $1.17–$1.18 range.
- RSI and MACD indicators hint at possible upward momentum for Ronin.
- February forecast suggests a potential 14.62% return despite short-term decline.
Ethereum gaming network Ronin, which powers Axie Infinity and Pixels, has transitioned to a permissionless model. This move aims to attract developers and expand its ecosystem with new games, decentralized applications, and projects. As a result, Ronin (RON) has shown notable price fluctuations, with signs of both bullish and bearish momentum.
Analyzing Ronin’s Price Trends
Initially, Ronin’s price experienced a decline, starting around $1.1563 before stabilizing. However, it quickly recovered, establishing an uptrend with a significant price surge. The rally was followed by a consolidation phase, where resistance was observed near $1.25.
This resistance caused some downward movement, but strong support was found between $1.17 and $1.18, allowing the price to rebound multiple times. As of now, Ronin is priced at $1.23, reflecting a 6.49% increase in the past day.
Key Support and Resistance Levels
Ronin’s support levels suggest a strong buying zone. The price has repeatedly bounced between $1.17 and $1.18, indicating solid support. If the price dips below this range, the next crucial support level stands at $1.15.
Conversely, resistance remains at $1.25, where selling pressure has previously been observed. If momentum sustains, the next potential resistance level could be around $1.30. A decisive breakout above this level may indicate a stronger bullish trend.
Technical Indicators Suggest Mixed Sentiment
The Relative Strength Index (RSI) stands at 40.65, nearing the oversold zone. An RSI below 50 signals bearish momentum, but the recent rebound suggests early bullish signs. If RSI surpasses 50, a sustained uptrend could be confirmed. The Moving Average Convergence Divergence (MACD) indicator also reflects a shifting trend.
Currently, the MACD line (-0.143) is below the signal line (-0.166), but the histogram is turning positive. This indicates that bearish pressure is weakening. A bullish crossover could trigger further upward movement.
February 2025 Forecast
Coicodex market projections suggest that Ronin’s price could decline by 23.62% in February, potentially reaching an average of $0.9386. The expected fluctuation ranges from $0.8768 to $1.0490. This forecast indicates a possible short-term decline, but a potential return of 14.62% from current levels remains.
If the price stabilizes above $1.20, another breakout attempt toward $1.25 or higher may follow. However, a drop below $1.17 could push the price toward $1.15.
