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Radiant Capital (RDNT) Price Surges: Where’s the Next Target After Strong Breakout?

The price of Radiant Capital (RDNT) has confirmed the previous crucial resistance zone as support and broke above the short-term range. It is expected to continue rising in the near future.

Weekly Outlook

The price of Radiant Capital (RDNT) broke above the crucial resistance zone at $0.34 during the week of February 19 to 25, 2024. The breakout occurred with a large bullish candle and high trading volume, confirming the validity of the breakout.

Last week, the price returned to confirm this zone as support (green arrow) and formed a bullish Pinbar candle. This action indicates that the downtrend since April 2023 has ended, and RDNT is in a new uptrend.

The weekly RSI is approaching the overbought zone and trending upward, signaling that the bulls are in control of the market.

Therefore, the price of RDNT may continue to rise towards the resistance zone at $0.49 in the coming weeks.

If this zone is conquered, it could rise to the next resistance level at $0.68 (1.618 external Fib retracement level of the previous decline).

RDNT/USDT weekly chart. Source: TradingView

Short-Term Breakout

The daily chart supports the bullish outlook from the weekly timeframe. It shows that RDNT has broken out above the range of $0.27-$0.36 and confirmed it as support over the past few days (green arrow) .

The daily RSI is above the 50 level and rising, supporting the possibility of further increase.

Therefore, the price of RDNT could rise towards the nearest horizontal resistance zone at $0.43 in the coming days.

RDNT/USDT daily chart. Source: TradingView

Conclusion

The most likely prospects suggest that the price of RDNT will continue to rise in the near future. The nearest target is $0.43 and higher towards $0.49 and $0.68.

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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