RONIN MARKET UPDATE
I am tracking $RONIN closely as volume expands, with a 24h change of 20.56% indicating moderate bullish momentum. The current price of $0.10320 is hovering near the resistance zone of ~$0.10447, which could act as a significant barrier to upside momentum. It's worth noting that $RONIN's funding rates are relatively neutral, which shouldn't impact its potential shift in market structure.
The volume profile suggests a significant increase in buying pressure, with a 24h volume of $2.29M, and $RONIN's mid-range VWAP of $0.09525 could act as a support zone if the price were to pull back. I'm watching for a potential test of the resistance zone at ~$0.10447, which could be a crucial level for $RONIN's market structure shift.
Given the bearish market sentiment, $RONIN's 24h change is a notable outlier, and its price action suggests a potential clean breakout above the resistance zone, with a target of 10% above the current price, around $0.11352.
$RONIN