Reserve Rights Price Prediction 2021 – Will RSR Hit $0.3 Soon?

Reserve Rights Price Prediction 2021 - Will RSR Hit $0.3 Soon?
  • Bullish Reserve Rights RSR price prediction ranges from $0.03 to $0.11.
  • RSR coin price might also reach $0.3 soon.
  • RSR coin bearish market price prediction for 2021 is $0.012.

In Reserve Rights RSR price prediction 2021, we use statistics, price analysis, RSI, and many other information about NFT to analyze the future trend of cryptocurrency.

Reserve Rights is a dual-token stablecoin platform that was launched on the Huobi Prime platform in May 2019 after the successful first transaction offer (IEO).

RSR is the second token in the ecosystem. It is a utility token that holders can use to vote on governance proposals.This will help keep the RSV value at the target price of $1.

Compared with the stablecoin RSV, RSR tokens are unstable. They are provided to investors, and the proceeds are used to fund the Reserve Protocol project. Although the RSR is volatile, it is also used to guarantee the collateralization rate and peg of the RSV.

According to CoinGecko, the RSR coin price is trading at $0.023 with a 24-hour trading volume of $66,505,565, at the time of writing. However, RSR has increased by 19.6% in the last 24 hours.

Moreover, RSR coin has a circulating supply of 13,157,804,000 RSR. Currently, RSR trades in cryptocurrency exchanges such as Binance, OKEx, Huobi Global, CoinTiger, and FTX. 

Reserve Rights RSR Price Prediction 2021

Reserve Rights (RSR) holds the 135th position on CoinGecko right now. Reserve Rights RSR price prediction 2021 explained below with a weekly time frame.

RSR/USDT Price Chart Weekly Time Frame
RSR/USDT Price Chart Weekly Time Frame (Source: TradingView)

The above chart shows the formation of the “Ascending Channel Trend pattern”.This pattern is the price action contained between upward sloping parallel lines. RSR trades in a range of $0.027. If the price breaks the trend line support level of $0.021 then it will lead to a further drop up to the $0.01 Level. If the pattern continues to the top side, then it will reach the $0.11 level soon.

RSR Support and Resistance Level

The below chart shows the support and resistance level of RSR.

RSR/USDT Support and Resistance Level
RSR/USDT Support and Resistance Level (Source: TradingView)

From the above daily time frames, it is clear the following are the resistance and support level of RSR.

  • Resistance Level 1 – $0.03
  • Resistance Level 2 – $0.05
  • Resistance Level 3 – $0.06
  • Resistance Level 4 – $0.08
  • Resistance Level 5 – $0.11
  • Support Level 1 – $0.025
  • Support Level 2 – $0.017
  • Support Level 3 – $0.012

The charts show that RSR has performed a bullish trend over the past month. If this trend continues, RSR might run along with the bulls overtaking its resistance level at $0.11.

Conversely, if the investors turn against the crypto, the price of RSR might plummet to almost $0.012, a bearish signal.

Reserve Rights (RSR) Average Directional Index (ADX)

Now let’s look at the average directional index (ADX) of RSR. Generally, the Average Directional Index (ADX) can be used to measure the overall strength of the trend. The ADX is associated with the Directional Movement Index (DMI).

The oscillator ranges from 0 to 100. The strong trend and weak trend, indicated by high value and low value. It is often combined with directional indicators. 

RSR/USDT ADX
RSR/USDT ADX(Source: TradingView)

The above chart shows the ADX of RSR stays above the range of 45, so it indicates a strong trend on a bull side.

Conclusion

RSR is one of the cryptocurrencies that keeps its ground against the bear market. Furthermore, our long-term RSR price prediction for 2021 is bullish. It has a huge possibility of overtaking its current all-time-high (ATH) of $0.117 this year. However, this only happens when RSR breaks a lot of past psychological resistance.

Furthermore, with the ongoing developments and upgrades within the RSR ecosystem, it could experience a great future ahead in 2021. It may reach $0.2 soon and it might even reach high heights, however reaching $0.3, if investors have planned that RSR is a good investment in 2021.

Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.

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Monisha is a Senior Programmer in the Automotive Embedded domain. Her interest in the cryptocurrency field made her write about crypto and blockchain-related news.