The price of Rollbit dropped by a steep 25% since meeting its all-time high this week as it fell as low as $0.20.
The bearish price drop caused $RLB to break beneath a rising price channel, possibly hinting at the end of the trend.
Meanwhile, a Rollbit alternative continues to rise after crossing the $2.2 million milestone this week.
Investors believe this newly emerging alternative has the potential to provide returns similar to Rollbit’s early days and are keen to become early adopters.
What you'll learn 👉
Rollbit $RLB Momentum Fades After Falling Beneath Price Channel.
Rollbit shows signs of its momentum fading after breaking beneath an ascending price channel this week.
Before the breakout, $RLB had been on an epic run higher, creating fresh all-time highs at $0.26 earlier this week.
From there, $RLB met resistance at a 1.272 Fib Extension and rolled over to drop as low as $0.2 today, finding support at a .382 Fib Retracement;
Looking ahead, the first support beneath $0.2 lies at $0.18 (.5 Fib Retracement). This is followed by support at $0.16 (.618 Fib), $0.15, and $0.131 (.786 Fib).
On the other side, resistance lies at $0.22, $0.24, and $0.26.
Beyond the all-time high, added resistance lies at $0.282 (1.414 Fib Extension), $0.3, and $0.313 (1.618 Fib Extension).
Rollbit Faces Regulatory Pressure and Closes Down Products
Despite the recent drop-off, $RLB remains extremely strong as it remains in the 73rd-ranked token by market cap value.
However, there are signs that Rollbit is feeling the scrutiny from regulators as it moves to shut down some of its products.
For example, Rollbit recently announced that it would close its Degen Exchange and sister site Rollbot.com.
The team cited regulatory uncertainty and low adoption as the main reasons for the closure, showing they are not entirely confident about their credentials and operating licenses.
Although the team claims the Degen Exchange had low adoption, it was one of the main driving forces behind its revenue-sharing model – which has investors worried about their future payments.
What Alternatives Are Traders Turning Towards?
While Rolbit starts to head lower, investors are looking for alternative competitors capable of delivering Rollbit-like returns.
$RLB surged well over 100x for early adopters. However, its current market cap of $715 million means it would be challenging for new investors to earn similar returns.
For example, Rollbit would need to add another $715 million to provide a small 2x for traders today.
As a result, investors are starting to look for alternatives and TG.Casino ($TGC) keeps appearing as a stand-out option.
TG.Casino Raises $2.2 Million As Investors Believe Revenue-Sharing Will Outshine Competition.
TG.Casino ($TGC) continues to turn heads as it raises $2.2 million in fundraising, demonstrating the building hype behind the project.
Investors are rushing to get positioned as early adopters in this newly emerging alternative as they believe it has the potential to outshine the competition.
Like Rollbit, TG.Casino has a revenue-sharing model. However, TG.Casino takes the concept further by becoming the first Telegram-based casino and integrating a novel burning mechanism into the mix.
As a result, investors believe the revenue sharing combined with the deflation will lead to long-term 100x returns for early adopters.
The platform combines two of the industry’s hottest trends in staking and Telegram bots.
TG.Casino is a cutting-edge online casino platform that leverages Telegram’s speed and security. Furthermore, it puts a crypto-based casino at the fingertips of Telegram’s 1 billion user base – allowing those holding $TGC tokens to earn a portion of the revenues.
The team will use a slice of the profits to buy back tokens from decentralized markets, providing the token with a consistent demand.
Of the $TGC tokens purchased, 60% is sent to stakers for passive income, and 40% is burnt to create deflation.
Furthermore, users can instantly log into the casino without signing up, as their Telegram account serves as the login.
The casino is fully licensed and regulated by the Curacao iGaming entity – meaning investors won’t have to worry about regulatory pressure as it becomes popular.
The presale continues to go from strength to strength after crossing $2.2 million this week.
Users can purchase $TGC for $0.155 by swapping ETH or USDT on the project’s website.
Disclaimer: We advise readers to do their own research before interacting with any featured companies. The information provided is not financial or legal advice. Neither CaptainAltcoin nor any third party recommends buying or selling any financial products. Investing in cryptoassets is high-risk; consider the potential for loss. CaptainAltcoin is not liable for any damages or losses from using or relying on this content.
CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com