- Reserve Rights price is breaking above the descending trendline, signals a bullish move ahead.
- On-chain data shows RSR's open interest is rising, indicating an influx of new money.
- A daily candlestick close below $0.0038 would invalidate the bullish thesis.
Reserve Rights (RSR) price is breaking above the descending trendline and trades higher by 3.6% on Wednesday. On-chain data shows that RSR's open interest is rising, indicating an influx of new money and a rally in RSR prices in the coming days.
Reserve Rights price shows potential for a rally after breaking above the descending trendline
Reserve Rights price is breaking above the descending trendline drawn by joining multiple swing high levels from March 26. At the time of writing, trades higher by 3.6% at $0.0054 on Wednesday.
If RSR breaks above the descending trendline and closes above the daily resistance at $0.0058, it could rally 33% to retest the June 12 high of $0.0078.
The Relative Strength Index (RSI) and the Awesome Oscillator (AO) on the daily chart trade above their neutral levels of 50 and zero, respectively. These momentum indicators strongly indicate bullish dominance.
RSR/USDT daily chart
Based on IntoTheBlock's In/Out of the Money Around Price (IOMAP), nearly 318 addresses accumulated 1.16 billion RSR tokens at an average price of $0.0053. These addresses bought the RSR token between $0.0052 and $0.0053, which makes it a key support zone.
Interestingly, the zone mentioned from a technical analysis perspective, the $0.0053 level, coincides with the IOMAP findings, making this zone a key reversal area to watch.
RSR IOMAP chart
Data from CoinGlass shows that the futures' Open Interest (OI) in Reserve Rights at exchanges is also increasing. The OI indicates the total number of outstanding derivative contracts that have not been settled (offset by delivery) and whether money flows into the contract are increasing or decreasing.
Increasing OI represents new or additional money entering the market and new buying, which suggests a bullish trend. When OI decreases, it is usually a sign that the market is liquidating, more investors are leaving, and the current price trend is ending.
The graph below shows that RSR's OI increased from $10.81 million on Tuesday to $12.88 million on Wednesday, indicating that new or additional money is entering the market and new buying is occurring.
RSR Open Interest chart
Despite the bullish thesis signaled by both on-chain data and technical analysis, the outlook will shift to bearish if Reserve Rights's daily candlestick closes below $0.0038. This scenario could lead to a 20% crash to retest its low of $0.0030 on August 5.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks

Crypto market wipes out $1 billion in liquidation as Asian markets bleed red
The crypto markets continue to decline on Monday, with Bitcoin (BTC) falling below $78,000. The Asian markets also traded in the red, with Japan’s stock market extending losses to 8.5%, its lowest level since October 2023.

XRP Price Prediction: XRP hangs on a loose thread, deeper correction below $2 impending?
Ripple (XRP) is extending losses below the previous week’s critical level at $2.00, as United States (US) President Donald Trump doubled down on tariffs, stressing that America must solve the trade deficit before making a deal.

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC and XRP head to yearly lows while ETH hits two-year bottom
Bitcoin (BTC) price hovers around $78,600 on Monday after falling nearly 5% the previous week. Ethereum (ETH) and Ripple (XRP) also followed in BTC’s footsteps and declined 13% and 10%, respectively, in the previous week.

Bitcoin could be the winner in the ongoing trade war after showing signs of decoupling from stocks
Bitcoin (BTC) traded above $84,000 on Friday, showing strength despite the stock market experiencing significant declines. The market reaction stems from United States (US) President Donald Trump's clash with the Federal Reserve Chairman Jerome Powell over interest rate decisions.

Bitcoin Weekly Forecast: Tariff ‘Liberation Day’ sparks liquidation in crypto market
Bitcoin (BTC) price remains under selling pressure and trades near $84,000 when writing on Friday after a rejection from a key resistance level earlier this week.

The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.