RAD Critical Support Tested: Can Bulls Regain Control?

• Radworks (RAD) is testing key support at $0.85, with traders monitoring for a potential rebound or further decline below this level.
• Technical indicators like RSI (38.66) and MACD suggest continued bearish momentum, though oversold conditions could lead to a short-term recovery.
• If support holds, RAD may target $1.22 and $1.50 resistance levels, but a breakdown could push prices toward $0.50 or lower.

Radworks (RAD) has its price under strain, testing a level of significant support. The security has traded in a widening wedge, and investors await a sign of a reversal. Historical price actions have hinted at the potential for a rebound, but technicals have signaled persistent bearish momentum.

Market Movement and Key Price Levels

A recent tweet posted by Alpha Crypto Signal focused on current price activity in RAD’s price. As per analysis, the asset is in a broadening wedge and resting over a key level of support. In its tweet, RAD’s behavior in bouncing off similar price levels in its past cycles was mentioned, and for that reason, investors have been forecasting a price reversal.

The Relative Strength Index (RSI) stands at 38.66, a level close to the oversold range. Any level below 30 would typically affirm oversold levels, and that increases the potential for a price reversal in the short term if buying demand emerges. Conversely, the 25-day Simple Moving Average (SMA) stands at $1.217, and since the current price is below, a continuing downtrend is confirmed.

Additionally, the MACD is in bearish momentum, with MACD below its signal line. The histogram remains negative, with an indication of ongoing selling pressure. Volume remains relatively high at 43.98 million, but sessions in recent days have declined, an indication of a loss in momentum.

Future Outlook and Potential Scenarios

If the present level of support at $0.85 holds, a future rebound could target $1.22, then upper resistance at $1.50 and $2.00. But in case of a drop below such a level of support, future drops could follow, with target potentials at $0.50 and below.

At the time of writing, Radworks (RAD) is at $0.8748, with a 24-hour trading value of $26,375,487. Over the 24 hours, it has increased 1.18% in value but continues in a downtrend for the week.