RIOT Platforms bull run has been an amazing one in 2025. Almost 300% in 6 months. Now markets are at a juncture of conflicting macro events that will shape the direction for the next move in a few weeks. Friday was particularly a bad day, and one for the history books for crypto.
For RIOT, we still have a 3 waves zigzag shape starting from the low of January 2023. In Macro sense, this could be a large B wave for even a larger structure starting from February 2021 top. So, to get a confirmation of which direction RIO will go, we need to wait for a bit. Ideally, if bull market to continue, RIOT needs to hold the top of the downward channel that it broke out of, somewhere between $14 to $12. Even it is a deeper wave 2, price should absolutely get support on $9 - $8 area. Anything below that, will be a very bad situation for the bag holders.
Weekly RSI is looking pretty healthy. Price has made correction at this level many times in the past. We want to see RSI level comes back to the median band and get support there for the next move. If the median line is breached, then things might get a bit nasty. There is no bearish divergence in weekly RSI, so there is no reason to be a doom and gloomer yet.
How BTC does in the next 6-8 weeks will also play a role on how RIOT will perform along with other miners. If BTC can recover and make new high, then change for RIOT to do the same will increase. Right now, I am not shorting at this time and planning on setting up some longs at the support area if we get there. Also, how we get there is also important, so, for now just wait and watch.
For RIOT, we still have a 3 waves zigzag shape starting from the low of January 2023. In Macro sense, this could be a large B wave for even a larger structure starting from February 2021 top. So, to get a confirmation of which direction RIO will go, we need to wait for a bit. Ideally, if bull market to continue, RIOT needs to hold the top of the downward channel that it broke out of, somewhere between $14 to $12. Even it is a deeper wave 2, price should absolutely get support on $9 - $8 area. Anything below that, will be a very bad situation for the bag holders.
Weekly RSI is looking pretty healthy. Price has made correction at this level many times in the past. We want to see RSI level comes back to the median band and get support there for the next move. If the median line is breached, then things might get a bit nasty. There is no bearish divergence in weekly RSI, so there is no reason to be a doom and gloomer yet.
How BTC does in the next 6-8 weeks will also play a role on how RIOT will perform along with other miners. If BTC can recover and make new high, then change for RIOT to do the same will increase. Right now, I am not shorting at this time and planning on setting up some longs at the support area if we get there. Also, how we get there is also important, so, for now just wait and watch.
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منشورات ذات صلة
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.