YEREVAN (CoinChapter.com) — Redstone price moved within a broad range, reaching a high of $0.90 before retreating. The price is now trading around $0.68249, with an intraday high of $0.68254 and a low of $0.68049. The chart shows an uptrend followed by a sharp decline. The price held above $0.65 support, preventing further losses. Despite the pullback, Redstone technical analysis suggests the asset is still trading within a key range.
Redstone RSI Drops Below 50, Indicating Weak Momentum
The Relative Strength Index (RSI) is at 47.27, down from recent highs above 70. This decline signals a loss of bullish momentum. The RSI remains below 50, indicating that sellers are gaining control. RSI movements have reflected market uncertainty. A peak above 70 earlier this week suggested overbought conditions before the current decline. If Redstone RSI stays under 50, the bearish momentum could persist.
Key Support and Resistance Levels for Redstone Price
The $0.64 support level remains a critical area for buyers. A break below could lead to a further drop toward $0.63. Holding this level may provide stability and prevent additional downside pressure. Resistance at $0.78 is the next key level. If Redstone price reclaims this resistance, it could move toward $0.80. The price is currently trading below the 200-period moving average, indicating ongoing bearish pressure. Traders are monitoring Redstone support levels to determine whether the price will stabilize or continue declining.
RedStone Denies Partnership Rumors with Web3Port and Whisper
RedStone also dismissed claims of a partnership with Web3Port and Whisper, stating that neither entity has ever provided services or influenced its market activities. The company clarified that these rumors were false, made without consent, and demanded their removal. However, some traces may still exist online. RedStone distanced itself from Web3Port and Whisper, possibly due to their reported involvement in controversies. Both firms have been linked to trading volume manipulation and price stability violations on Binance. While Binance has not confirmed any connection, industry insider AB Kuai Dong suggested that May Liu, who operates Whisper, could be involved. She is also associated with incubating Web3 projects through Web3Port.
Meanwhile, RedStone’s RED token has shown resilience despite the circulating rumors. It has gained 4% in the last 24 hours, rising 10% over the past week and 74% in the past month. The price movement suggests that the company’s swift clarification prevented any significant market disruption, keeping investor confidence intact.