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RBIS re-tests multi-month support; Buy this dip?

The ArbiSmart platform offers its users multiple crypto financial services and allows them to easily manage their portfolios while earning a steady stream of passive income. Their services include an interest-bearing wallet, an exchange, and an automated crypto arbitrage platform. The native token of the ArbiSmart ecosystem is RBIS.

From a technical standpoint, the RBIS/USDT pair has enabled a bullish breakout from the falling wedge pattern after recovering from the $0.3 high-demand zone. Therefore, the replenished bullish momentum should provide a recovery opportunity with a near target at $0.55.

Core items:

  • The RBIS chart shows high demand pressures near the $0.3 level
  • A falling breakout of the wedge pattern could send RBIS price 58% higher
  • The intraday trading volume of ArbiSmart coin is $268.1 million, which is a gain of 21.5%.
  • A price increase of 33% in the last 4 days
  • Supply is expected to shrink while demand rises as new RBIS utilities are launched in H2

Source – Trade View

Last week’s minor pullback formed into a falling wedge pattern and on June 16th the coin price bullishly broke out of its resistance trend line at $0.55. The expected retest should confirm this breakout and provide an entry point for interested buyers, with the first target at $0.55.

On the contrary, the fallout from $0.3 would invalidate the bullish theory.

For the past few days, the RBIS price has risen a steady 33% and the price is on track to gain even more momentum in the coming weeks.

Technical indicator

Relative Strength Index: The daily slope of the RSI is showing an apparent bullish divergence on the two RBIS price retests provided to the $0.3 support. This divergence suggests growth in the underlying bullish sentiment and amplifies the breakout of the wedge pattern.

It is not: The falling coin price has witnessed constant resistance from the 20-day EMA since late April. Therefore, a real breakout of this EMA would be the first sign of a possible recovery.

Factors contributing to the bullish forecast

There are a number of reasons behind the expected bullish trend of the RBIS token.

The newly launched interest-bearing ArbiSmart wallet is expected to have a significant impact on the native token’s price. One reason for this is the industry-wide high incentives offered to RBIS holders. For example, the wallet offers up to 49% interest on balances in all supported FIAT and cryptocurrencies, except for RBIS balances, which earn up to 147% per year. Also, more RBIS means more voting power. Additionally, the more RBIS the wallet holder owns, the higher the account balance, which determines how much interest they earn across all supported currencies.

These stimuli are expected to increase token demand, as will the impact of large sums of RBIS being suddenly locked into wallet savings plans for periods of 2, 3 and 5 years and exiting circulation. This will lead to a “supply shock” in the coming weeks. Supply will shrink as demand continues to grow, with the launch of new services in H2 driving the token price higher.

A number of new utilities will be introduced in rapid succession during the third and fourth quarters of 2022. This includes a mobile application that offers all the functionality of the ArbiSmart platform. Immediately following is the launch of an NFT marketplace and the collection of unique digital artworks, as well as a decentralized yield farming program that offers industry-leading staking plans from 0.3% in fees on each trade and up to 190,000% APY.

Also in the development pipeline is a cryptocurrency exchange and gaming metaverse where players can buy, build, and sell digital properties to generate real-world revenue.

The addition of each new utility will boost token demand as RBIS is the currency that powers the entire ArbiSmart ecosystem and is required to use all services. Over time, it is expected that liquidity and demand will continue to increase as the entire ecosystem becomes interconnected, where, for example, an ArbiSmart NFT can be used as an in-game item in the Metaverse.

Price prediction until September 2022

If the crypto market finds its bottom within the next three months and starts to recover, the RBIS/USDT could revisit the $4 level.

Price prediction until December 2022

Over the next six months as all new RBIS utilities roll out, RBIS/USDT is on track to rally to the $14.5 level.

Price forecast end of Q1 2023

If the ArbiSmart token (RBIS) establishes a steady uptrend over the next year, the coin price could reach $27.

In the current dip, RBIS continues to rise in value with strong forecasts for the coming months. To learn more about RBIS utilities and related revenue opportunities, visit the ArbiSmart website. To keep up with the token’s growth as new utilities roll out over the coming weeks and months, you can always check out the RBIS price.

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