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<p><strong>Cryptocurrency casino and derivatives exchange Rollbit (RLB) has seen its token surge over 14% in the last 24 hours, hitting close to $0.20 and a new all-time high. This latest price action continues RLB’s robust performance even amid the ongoing crypto bear market.</strong></p>
<p>RLB is currently trading inside an ascending channel, with signs of a potential inverse head and shoulders pattern and ascending triangle formation. This bullish technical setup has caught the attention of analysts, who <strong>speculate </strong>the coin could soon rally to $1.</p>
<p>Driving this optimistic outlook is the growing momentum behind a Bitcoin exchange-traded fund (ETF). As regulators edge closer to approving a Bitcoin ETF, analysts believe the resulting influx of institutional investments could have a profoundly positive impact on the broader crypto market. RLB is well positioned to capitalize on this narrative.</p>
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<p>The coin is also trading constructively on key market indicators. RLB is holding above the crucial 50-day exponential moving average and weekly volume weighted average price (VWAP) – both bullish signals. On-chain data reflects surging interest as well, with whale transactions and social dominance rising sharply.</p>
<p>However, the relative strength index (RSI) for RLB currently sits at 87. An RSI above 70 is considered overbought territory, signaling the asset may be primed for a pullback or consolidation. This does not negate RLB’s bullish outlook, but suggests some short-term caution may be warranted.</p>
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<p>In summary, while RLB exhibits a firmly bullish technical and on-chain profile, the overextended RSI hints prices could cool off in the near-term. But analysts ultimately see strong potential for RLB to continue rallying over the medium to long term, with $1 viewed as a viable upside target.</p>
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<p>The post <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com/rollbit-rlb-surges-to-new-highs-as-analysts-eye-potential-rally-to-1-but-theres-a-catch/">Rollbit (RLB) Surges to New Highs as Analysts Eye Potential Rally to $1, but There’s a Catch</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Rollbit (RLB) Surges to New Highs as Analysts Eye Potential Rally to $1, but There’s a Catch

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