Ronin

Million

Axie Infinity

Coin

<p><strong>RON </strong>is the native token for the <strong>Ronin </strong>chain. It will be used in the long term to make payments for gas fees and to secure the network for Axie Infinity and other games built on the chain in the future.</p> 
<p>RON has traded inside the <strong>falling channel pattern for months </strong>and defended the $1.50 mark, the lower trendline support last week.</p> 
<p>Afterward, it exhibited a rebound from its lower trendline mark and recovered over 30% of gains this week. Apart from this, <strong>RON </strong>has climbed above the 20-day EMA mark and conveyed the buyers’ accumulation from the lows.&nbsp;</p> 
<p>The token gained traction when writing and was poised to continue the upward movement ahead. For the bulls, the prompt hurdle of $2.50 was the main target.0 Beyond that, a much-awaited breakout rally could be possible.</p> 
<h2 class="wp-block-heading" id="h-how-is-ronin-ron-doing"><strong>How Is Ronin (RON) Doing?</strong></h2> 
<p>At press time, the <strong>Ronin </strong>was trading at $2.10 with an intraday surge of 12.26%, reflecting neutrality on the charts. It has a monthly return ratio of -25.30% and 10.20% yearly, reflecting short-term consolidation.</p> 
<p>The pair of RON/BTC was at 0.0000365 BTC, and the market cap was $715.32 Million at press time. Analysts seemed neutral and suggested that the <strong><a href="https://www.thecoinrepublic.com/2024/04/04/ronin-price-prediction-will-it-regain-momentum-above-4-mark/">RON price</a></strong> may escape out of the channel and would register a breakout soon.</p> 
<h2 class="wp-block-heading" id="h-ronin-ron-gained-traction-can-bulls-claim-the-3-mark-this-month"><strong>Ronin (RON) Gained Traction; Can Bulls Claim the $3 Mark This Month?</strong></h2> 
<p>Per the price action, the<strong> RON token</strong> has completed the bearish phase and revived from its fourth correction wave. From there, a noteworthy follow-on buying activity with a substantial increase in volume of over 55% was spotted.</p> <iframe loading="lazy" title="Santiment Chart: Price (RON), Volume (RON)" width="800" height="425" src="https://embed.santiment.net/chart?ps=ronin&amp;pt=RON&amp;df=2024-01-13T18%3A29%3A59.609Z&amp;dt=2024-07-13T18%3A29%3A59.609Z&amp;emcg=1&amp;emhwm=1&amp;wm=price_usd%3Bvolume_usd&amp;wax=0%3B1&amp;wc=%2326C953%3B%23D2D6E7&amp;ws=%7B%22interval%22%3A%221d%22%7D%3B%7B%22interval%22%3A%221d%22%7D" scrolling="no"></iframe> 
<p>Its RSI curve showed a gigantic rise, retained the halfway line, and noted a bullish crossover on the charts.</p> 
<p>In terms of the market cap, <strong>RON </strong>ranked at 96 and has a total supply value of 1 billion, whereas the circulating supply was 335.66 Million at press time.</p> 
<h2 class="wp-block-heading" id="h-what-does-the-on-chain-data-show"><strong>What Does the On-Chain Data Show?</strong></h2> 
<p>Amidst the price rise, the weighted sentiment data stood below the halfway zone and comfortably placed in a negative region at the 0.424 mark, highlighting no significant changes in sentiment among the investors.</p> <iframe loading="lazy" title="Santiment Chart: Weighted sentiment (Total) (RON), Price Volatility 1d (RON), Social Dominance (RON)" width="800" height="425" src="https://embed.santiment.net/chart?ps=ronin&amp;pt=RON&amp;df=2024-01-13T18%3A29%3A59.609Z&amp;dt=2024-07-13T18%3A29%3A59.609Z&amp;emcg=1&amp;emhwm=1&amp;wm=sentiment_volume_consumed_total%3Bprice_volatility_1d%3Bsocial_dominance_total&amp;wax=0%3B1%3B2&amp;wc=%23FF5B5B%3B%23FFCB47%3B%235275FF&amp;ws=%7B%22interval%22%3A%221d%22%7D%3B%7B%22interval%22%3A%221d%22%7D%3B%7B%22interval%22%3A%221d%22%7D" scrolling="no"></iframe> 
<p>Notably, the social dominance data exhibited a notable rise of over 65% to 0.292%, conveying a positive shift in chatter among investors on social media platforms.</p> 
<p>Meanwhile, the price volatility curve showed a spike of over 22% and conveyed a speculative move, hinting at the potential recovery ahead.</p> 
<h2 class="wp-block-heading" id="h-total-liquidations-data-favoured-a-rise"><strong>Total Liquidations Data Favoured a Rise&nbsp;</strong></h2> 
<p>Following the price rise, the liquidations data witnessed a notable shift. The short liquidations increased slightly, at $18.47k, while the long liquidations stood at $8.4k.&nbsp;</p> 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXcT7nRA4Yq3ijL6fXLCwGDq4TD6Dk5E7ZcLMuz4AI6O5Za1hp6mKMisiSRUejvnND1mkrEluJkajmuzTjQWJ8BE1GFTmjXGlA_STPllxLh76omSq3yssFR5z0RWHzlVawFNnpc2pWc4dEQMAHp_7omdtgU?key=LKu1FmQ15ULm-oaE_pg6Cw" alt="RON">
 <figcaption class="wp-element-caption">
  Source: Coinglass
 </figcaption>
</figure> 
<p>This shift in liquidity data exhibited the buying pressure could fuel the price surge. The short covering move could seen ahead.</p> 
<p>As soon as the token split the cluster of $2.50, a major block of shorts trapped. An upside toward the $3 mark could seen ahead.</p> 
<p>The immediate support levels for the <strong>RON token</strong> are $1.80 and $1.30, whereas the key upside hurdle is around $2.40, followed by $3</p> 
<h2 class="wp-block-heading" id="h-is-ronin-eyeing-more-gains"><strong>Is Ronin Eyeing More Gains?</strong></h2> 
<p>The <strong>Ronin token price </strong>climbed above the 20-day EMA mark and is trying to reach the 50-day EMA mark for a significant up move ahead. Moreover, a fresh bullish wave triggered, and buyers are eyeing the $3 mark to catch it shortly.</p> 
<p>The post <a href="https://www.thecoinrepublic.com/2024/07/13/ronin-ron-retained-2-mark-will-it-regain-its-resilience/">Ronin (RON) Retained $2 Mark: Will It Regain Its Resilience?</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.</p>

Ronin (RON) Retained $2 Mark: Will It Regain Its Resilience?

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