RBIS Retests Multi-month Support; Buy this Dip?

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The ArbiSmart platform provides its users with multiple crypto-financial services and allows them to easily manage their portfolios as they earn a steady stream of passive income. Their services include an interest-bearing wallet, an exchange, and an automated crypto arbitrage platform. The native token of the ArbiSmart ecosystem is RBIS.

From a technical perspective, the RBIS/USDT pair has provided a bullish breakout from the falling wedge pattern after rebounding from the high demand zone of $0.3. Thus, the replenished bullish momentum should provide a recovery opportunity with a close target at $0.55.

Key points:

  • The RBIS chart shows high demand pressure near the $0.3 mark
  • A falling wedge pattern breakout may surge RBIS price by 58%
  • The intraday trading volume in the ArbiSmart coin is $268.1 Million, indicating a 21.5% gain.
  • A 33% rise in price over the last 4 days
  • Supply is set to shrink, while demand climbs, as new RBIS utilities are introduced in H2

Source- tradingview

Last week’s minor pullback shaped into a falling wedge pattern, and on June 16th, the coin price gave a bullish breakout from its resistance trendline $0.55. The expected retest should validate this breakout and offer an entry opportunity for interested buyers, with its first target at $0.55.

On the contrary note, the fallout from the $0.3 mark would invalidate the bullish theory.

Over the last few days, the RBIS price has risen consistently, going up by 33% and the price is on track to gain even greater momentum over the coming weeks.

Technical indicator

Relative Strength Index: The daily-RSI slope shows an evident bullish divergence concerning the two retests of the RBIS price provided to $0.3 support. This divergence indicates growth in underlying bullishness and bolsters the wedge pattern breakout.

EMAs: The falling coin price has witnessed constant resistance from the 20-day EMA since late April. Thus, a genuine breakout from this EMA would be the first sign of a potential recovery.

Factors contributing to the bullish forecast

There are a number of reasons for the anticipated upward trajectory of the RBIS token.

The newly launched ArbiSmart interest-bearing wallet is expected to have a significant impact on the price of the native token. One reason for this is the industry-high incentives offered to RBIS holders. For example, the wallet offers up to 49% interest on balances in all supported FIAT and cryptocurrencies, except for RBIS balances which earn up to 147% a year. Also, more RBIS, means greater voting power.. Additionally, the amount of RBIS the wallet holder owns, the higher their account level, which determines how much interest they earn on all supported currencies.

These incentives are expected to increase token demand, as should the impact of large sums of RBIS suddenly being locked in the wallet’s savings plans for periods of 2,3, and 5 years and leaving circulation. This will lead to  “supply shock”  over the  coming weeks. Supply will shrink as demand continues to rise, with the introduction of new services in H2, driving up the token price.

Throughout Q3 and Q4 of 2022  a series of new utilities is being introduced in rapid succession. These include a mobile application offering all the functionality of the ArbiSmart platform. This will be immediately followed by the introduction of an NFT marketplace and collection of one-of-a-kind digital artworks, as  well as a decentralized yield farming program offering industry-leading staking plans of 0.3% of the fees on every trade and up to 190,000% APY.

Also in the development pipeline is a cryptocurrency exchange and a gaming, play-to-earn metaverse, where visitors will be able to buy, build on, and sell digital plots of land for real-world revenue.

The addition of each new utility will drive token demand, since RBIS is the currency that fuels the entire ArbiSmart ecosystem and is required to use all the services. Over time, the liquidity and demand are expected to be further boosted by the interlinked nature of the entire ecosystem, where,  for example, an ArbiSmart NFT can be used as an in-game item in the metaverse.

Price prediction by Sept 2022

If the crypto market finds its bottom within the next three months and starts to recover again, the RBIS/USDT could revisit the $4 mark.

Price prediction by Dec 2022

Over the next six months as all the new RBIS utilities are introduced, RBIS/USDT is on track to increase to the $14.5 mark.

Price prediction end of Q1 2023

Over the next year, if the ArbiSmart token (RBIS) establishes a steady uptrend, the coin price could hit $27.

In the current dip, RBIS is continuing to rise in value with strong forecasts for the months ahead.  To learn more about RBIS utilities, and the revenue opportunities they offer, check out the ArbiSmart website. To stay updated on the growth of the token, as new utilities are introduced over the coming weeks and months, view the RBIS price at any time.

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