RSRUSDT trade ideas
Reserve Rights Token (RSR) Hey Hey
RSR ON FIRE AGAIN
Reserve Rights is a dual-token stablecoin platform that was launched in May 2019 following a successful initial exchange offering (IEO) on the Huobi Prime platform.
Reserve Rights’ dual token setup includes a stablecoin known as the Reserve stablecoin (RSV) — which is backed by a basket of assets managed by smart contracts. The second token is the Reserve Rights token (RSR), which is used to keep the RSV stable at its $1.00 price target through a system of arbitrage opportunities..
TG 0.1- 0.105 -0.120 SL 0.9- 0.85
BYE
RSR is very promising in the long run, as it has been!Technical analysis regarding the price of RESERVE RIGHTS in relation of dollar Tether for the next scenarios, based on daily movement.
disclaimer
*** In accordance with CVM Instruction No. 598, of May 3, 2018, Art. 21, I declare that the recommendations of this analysis reflect solely and exclusively my personal opinions and perceptions and that they were prepared independently and autonomously. Not being considered a purchase and/or sale recommendation. ***
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RSR setting up for a pumpRSR has been quiet for almost a month, it almost reached 0.1$ and then dumped, did a series of swings to create this symmetrical triangle.
I think symmetrical triangles are among the chart pattern that deliver the most so, if this is a bullish scenario like I think it is, the target will be reached pretty soon from the breakout. Right now indicators say it's still ranging, it's possible it'll do another leg down so to enter I suggest that you either wait the breakout or wait to see if it goes on the bottom of the triangle again.
A safe entry would be once it closes a candle over that resistance over the triangle. Use risk/reward chart to set your stop loss. During past weeks the purple zone worked as a mild support/resistance within the triangle.