FxWirePro- RONUSD (Chart of the day)

Ronin is an EVM blockchain crafted for developers building games with player-owned economies. The blockchain is home to all Axie Infinity assets like Axie, Land, SLP, and AXS. It is the blockchain built specially for games.

Consensus mechanism-  Delegated Proof of Stake (DPOS)

Main features

1. Transaction per second - Up to 10000
    
2. Block time - 3 seconds

Ichimoku Analysis  (4 hour chart)

Tenken-Sen- $3.05

Kijun-Sen- $2.93

RONUSD was one of the best performers yesterday

Any daily close above $0.25 confirms further bullishness.

RONUSD trades higher and surged more than 30% in the past week.  The pair holds well above the short-term (21 and 55 EMA) and long-term moving average. It hit a high of $3.20 and is currently trading around $3.17.

The bullish invalidation can happen if the pair closes below $2.35. On the lower side, the near-term support is $2.80. Any break below targets $2.55/$2.40.

The immediate resistance stands at around $3.50. Any breach above confirms a minor pullback. A jump to $4/$4.56 is possible. A surge past $4.60 will take it to $5/$6.

It is good to buy on dips around $2.80 with SL around $2.20 for TP of $4.55.