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Radiant Capital (RDNT) Price could Increase by Nearly 50% After Breaking Above This Resistance

The price of Radiant Capital (RDNT) is currently breaking above a significant resistance zone. A successful breakout is expected to lead to a strong rally in the near future.

Significant Resistance Zone

The price of Radiant Capital (RDNT) turned lower after being rejected by a long-term resistance zone at $0.34 during the week of January 15-21, 2024.

However, the downward momentum halted in the following week as RDNT bounced from the previous resistance zone at $0.28 (green arrow). This move formed a higher low, signaling bulls are buying on minor dips.

Currently, the RDNT price is making another attempt to break above the $0.34 resistance zone.

The weekly RSI (Relative Strength Index) has risen from the 50 level and is sloping upward, supporting the potential breakout.

If the breakout is successful, it could rise by 46.1% to the next significant resistance level at $0.49.

RDNT/USDT weekly chart . Source: TradingView

Short-Term Range

The daily chart shows that RDNT has been trading within a range from $0.27 to $0.36 since January 3, 2024. Both the support and resistance of the range have been tested several times, confirming its validity.

Yesterday, the RDNT price bounced from the middle of the range (green arrow) and created a bullish engulfing candle. This indicates strong buying pressure at higher levels.

The RSI remains above the 50 leve, signaling an advantage for the bulls.

Therefore, there is a possibility that RDNT will break above the current range and rise to the next horizontal resistance zone at $0.43.

RDNT/USDT daily chart . Source: TradingView

Conclusion

The most likely prospect suggests that the price of RDNT will break above the current resistance zone and rise higher in the near future. The nearest target is $0.43, with the potential for further increase to $0.49.

Disclaimer: Please note that this article is for informational purposes only and should not be taken as investment advice. As an investor, it is important to do your own research before making any decisions. We are not responsible for any investment decisions you make based on this information. Not Financial Advice.

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