When RedStone Rockets, Should You Hold or Sell Before the Wild Ride?

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Key Takeaways

After that Friday Upbit listing-like a shot from a rusty six-shooter-RedStone token prices didn’t just rise, they roared, jumping 66% above that stubborn $0.5 supply line. The bulls, those eternal optimists, are hoping this party don’t break up anytime soon and push RED even higher.

Now, here’s the thing: RedStone [RED], that oracle token sprinting like a horse who just saw the barn door open, clocked a 101% spike in daily trading volume over the past day. Quite the spectacle.

But don’t let the fireworks fool you. CoinMarketCap whispered a quieter tale-while volume shot through the roof, the price took a little tumble, dropping 9.38% sharpish in 24 hours. Remind you a bit of a rodeo fall? Yep.

Meanwhile, the big boys-Bitcoin [BTC] and Ethereum [ETH]-were tiptoeing backward, with losses of 1.78% and 2.09% respectively. The whole altcoin corral saw its market cap dip a modest 1.3%. So if you saw RED stumble, it wasn’t just clumsy feet-it was the whole dance floor swaying.

So you’re wonderin’: what’s the long haul word on this token? Should you saddle up or wait for a friendlier trail?

Can RedStone bulls hold their ground or are they just chasing dust?

That big bash on September 5th-a listing announcement on Upbit-was like lighting a bonfire in a dry field. At its peak, RED clocked $1.19, shooting up 193% that day. That’s a hell of a buck for a token that just months ago was a glimmer in a coder’s eye.

Over on Binance, RED/USDT folks were trading $139.57 million in spots that day, dwarfed only by their usual timid $17 million average over 20 days. Clearly, someone forgot to tell the market to take it slow.

Of course, after such a leap, some took their chips off the table-selling pressure and profit-taking stepped right up. A clever set of Fibonacci retracements laid bare a $0.573 support line, saying, “This ground ain’t going to give up easy.”

Look a little lower, and there’s the $0.5 demand zone-like the crusty old sheriff standing at the border, both a psychological and technical checkpoint. Since April, it’s been a resistance, but now it’s looking to flip sides. That means buyers might circle wagons and prepare to pounce.

Looking north, targets glimmer like mirages on a parched plain-$0.7, $0.9, then the big round $1 figure, and back to the September 5th high at $1.19. The bulls have their eyes set, but the trail is rough and full of coyotes.

The OBV-on-balance volume, for those not in the know-was climbing the hills after that buying frenzy, and the Awesome Oscillator grinned bullishly, showing no sign of the bearish wolves sneaking in at press time.

One last note: the Moving Averages were still lagging like a stubborn mule after RED’s wild 65.87% sprint in a day. It’s catching up, but don’t expect it to pull a miracle overnight.

So there it stands: a wild ride in the dusty crypto plains, where fortunes may soar-or get eaten by rattlesnakes. Hold tight, partner, and keep your wits about you. 🤠💸

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2025-09-07 00:16