$RIO Price Declines Below Key Support—Is a Reversal on the Horizon?

• $RIO remains in a downtrend, testing key support at $0.37. A breakout above $0.65 is needed to confirm a reversal.
• RSI at 28.17 signals oversold conditions, but strong buying pressure is required to push $RIO back above key resistance.
• Traders watch for a structure shift with higher highs and lows before confirming a bullish move above $0.65.

$RIO has continued its downtrend after a break below a descending wedge and a strong level of horizontal support. The security is trending towards a key level of support, with investors searching for a sign of a reversal. There have been oversold indications in technicals, but confirmation is in store for a change in direction of a trend to manifest.

$RIO Breaks below Key Support with Selling Pressure Building

A recent tweet from Alpha Crypto Signal outlined $RIO’s bearish move, having broken down out of a downtrend wedge and failed to maintain key support levels. Price has fallen down towards $0.37, a region that could act as a potential near-term base in case buying momentum picks up.

The persistent downtrend with lower lows and lower highs since mid-December 2024 demonstrates continued bearish momentum. Rebounding is possible in case of a hold at $0.37, but further loss may ensue in case of a breakdown below

Technical Indicators 

The Relative Strength Index (RSI) currently stands at 28.17, placing $RIO in oversold territory. Historically, RSI levels below 30 indicate potential recovery zones, provided there is increased buying activity. Additionally, a notable increase in trading volume at support suggests heightened market participation.

The 25-day Simple Moving Average (SMA) remains above the current price, reinforcing bearish conditions. A breakout above this level would be required to indicate a trend reversal. Meanwhile, the MACD line remains below the signal line, showing ongoing selling pressure, though weakening negative momentum suggests possible stabilization.

Support and Resistance Levels

$RIO’s primary support zone is between $0.30 and $0.37, where previous demand has led to price recoveries. If the price remains above this level, a potential rebound toward resistance at $0.60–$0.65 may occur. However, if the support level breaks, further declines toward $0.30 could follow.

Resistance remains at $0.65, aligning with the 25-day SMA. A confirmed breakout above this level may push the price toward $1.00. However, failure to regain this level could result in continued downward momentum.

Market Outlook and Potential Price Movements

The market remains in a downtrend, with $RIO approaching key support levels. A confirmed reversal would require sustained buying pressure and a move above resistance levels. Until a structural shift occurs, the possibility of further declines remains present.