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.