Resistance

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>RIOT stock price (NASDAQ: RIOT) fell 43% in August 2023 and eroded the complete gains of the previous month.</a> </li> 
 <li> <span>2</span> <a>Riot Platforms Inc. beat the EPS estimate but missed the revenue.</a> </li> 
 <li> <span>3</span> <a>RIOT Blockchain stock price drops below the 50-day EMA indicating a bearish trend reversal.</a> </li> 
</ul> 
<p>Riot Platforms Inc., RIOT stock price faced strong rejection from $20 and showed a steep fall in August 2023. This massive sell-off with a high selling volume indicates some big players might have taken an exit.&nbsp;</p> 
<p>RIOT stock price lost the bullish momentum and disappointed the expectations of the long-term investors. It formed a bearish pattern and eroded the complete gains of the previous month.&nbsp;</p> 
<p>Riot Platforms Inc. (NASDAQ: RIOT) released the previous quarter earnings on August 9, 2023. It reported an EPS of -0.17 and revenue of $76.7 Million. Riot beat the EPS estimate by 14.83% but missed the revenue by 9.38%.&nbsp;</p> 
<p>Due to this RIOT <a href="https://www.thecoinrepublic.com/2023/08/25/riot-stock-lost-over-43-constant-selling-volume-troubling-prices/" rel="noopener noreferrer nofollow">stock price</a> reacted negatively and prices broke the crucial support of $14.00.&nbsp;</p> 
<p>At the same time, the RIOT Blockchain share price also dropped below the 50-day EMA which invited further decline. It showcases that the short-term trend has reversed in the downward direction.&nbsp;</p> 
<p>RIOT stock price closed the previous session at $10.49 with an intraday rise of 1.16%. The market capitalization stands at 1.94 Billion.</p> 
<h2 class="wp-block-heading" id="strong-will-riot-stock-nasdaq-riot-hold-10-or-decline-further-strong"><strong>Will RIOT Stock (NASDAQ: RIOT) Hold $10 or Decline Further?</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh5.googleusercontent.com/hNjqDoIKCneyppAt573_TBwZ4ZBC79o-pclK9qFQv9SF8KyBur-jX_WlSfxYwgMwM6OH3TtI_IBQkMaFYsK18Eg_rU0YilQHpcuQd7Up9roQsHiFjQpbSydUwZKmWx8899VfjJ4uYInIP1IBV1s_mw" alt="RIOT Stock: Will the Correction in RIOT Take a Halt Near $10?"> 
  <figcaption class="wp-element-caption">
    NASDAQ: RIOT daily chart by <a href="https://www.tradingview.com/x/pjOexTxv/" target="_blank" rel="noopener noreferrer nofollow">TradingView</a> 
  </figcaption> 
 </figure> 
</div> 
<p>RIOT stock price is near its 4-month low and buyers are trying their best to rebound. A sudden downfall in the RIOT <a href="https://www.thecoinrepublic.com/2023/08/25/riot-stock-lost-over-43-constant-selling-volume-troubling-prices/" target="_blank" rel="noopener noreferrer nofollow">Blockchain share </a>has hurt the sentiment of its investors.&nbsp;</p> 
<p>However, the downfall halted near $10.00 and entered into consolidation. It shows that buyers are still active in the demand zone. So, it will be not easy for bears to pull the prices further down.&nbsp;</p> 
<p>Till the RIOT share price sustains above $8.00 the bulls will remain active. But fresh buying will only be visible when buyers are able to regain the $14.50 level.&nbsp;</p> 
<p>The technical analysis suggests RIOT share price will consolidate for some time near $10 before deciding further direction.&nbsp;</p> 
<h3 class="wp-block-heading" id="strong-riot-blockchain-stock-performed-well-in-2023-strong"><strong>RIOT Blockchain Stock Performed well in 2023</strong></h3>  
<div class="tradingview-widget-container">
  &nbsp;&nbsp; 
 <div id="tradingview_35a27"></div> &nbsp;&nbsp; 
 <div class="tradingview-widget-copyright"> <a href="https://www.tradingview.com/" rel="noopener noreferrer nofollow" target="_blank"><span class="blue-text">Track all markets on TradingView</span></a> 
 </div> &nbsp;&nbsp; 
 <script type="text/javascript" src="https://s3.tradingview.com/tv.js"></script> &nbsp;&nbsp; 
 <script type="text/javascript">

  new TradingView.widget(

  {

  "width": 950,

  "height": 500,

  "symbol": "NASDAQ:RIOT",

  "interval": "D",

  "timezone": "Etc/UTC",

  "theme": "dark",

  "style": "1",

  "locale": "en",

  "enable_publishing": true,

  "allow_symbol_change": true,

  "studies": [

    "STD;Supertrend"

  ],

  "container_id": "tradingview_35a27"

}

  );

  </script> 
</div>  
<p>RIOT Blockchain stock price has performed well in 2023 and is up by 211% on a YTD basis. But the previous month was disappointing which eroded the big portion of the market capitalisation of the company.&nbsp;</p> 
<p>The MACD curve of RIOT share slopes down and slips below the zero line indicating bearishness. The super trend also favors the bears’ showcase prices into the bear grip. Whereas, the RSI at 28 denotes oversold territory due to which a relief rally may trigger time.&nbsp;</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>Riot Platforms Inc., RIOT stock price fell 43% in August 2023. It displayed a bearish pattern but $10.00 is acting as strong support for bulls. The technical analysis suggests that RIOT Blockchain share will consolidate near $10.00 before deciding next direction.</p> 
<h5 class="wp-block-heading"><strong>Technical levels</strong></h5> 
<ul> 
 <li><strong>Resistance levels:</strong> $14.47 and $17.37</li> 
 <li><strong>Support levels:</strong> $9.44 and $7.82</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.</p>

RIOT Stock: Will the Correction in RIOT Take a Halt Near $10?

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Thecoinrepublic.com

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