$RIOT - RC -
Added 2024-08-13 10:49:03 +0000 UTCMiners have been under a lot of pressure lately as crypto has been moving with the market weakness.
There are signs that the worst may be behind for crypto but $BTC will need to get above the $62k level, which is its 200 Day MA and so far it has been met with some resistance, we have spoken about this under the $BTC chart.
$RIOT also rejected at its 200 Day MA on the retest and has fallen abruptly since and we can see that a descending wedge has now been formed.
Bullish in nature but as we know, they can continue for a long period.
0.78 Fib is at $7 right now, so coupled with the trend line support, maybe this will provide support.
