Why Is RIF Coin Pumping? Analyst Shows Why the Price Could Surge Higher

Rootstock Infrastructure Framework (RIF) coin has seen significant upward momentum in recent days. It has seen more than 35% gain today alone, leaving many with the thought of why it is pumping. For background, RIF offers open-source tools and technologies to build decentralized finance (DeFi) products for payments, lending, and more. It is surging based on a bullish technical pattern spotted by analyst Captain Faibik.

Breaking Falling Wedge

According to Faibik’s analysis, RIF is breaking out of a falling wedge pattern on the daily timeframe. A falling wedge involves lower highs and lower lows converging into a wedge shape, signaling a reversal is imminent.

As Faibik’s chart shows, RIF broke above wedge resistance around $0.08 and continues pushing higher. Falling wedges breakouts typically lead to strong bullish moves, fueling further upside.

Rallied Past $0.10, More Room Seen

RIF has already rallied past $0.10 from the breakout point around $0.08. However, Faibik’s analysis suggests the price could continue surging to as high as $0.17 based on the falling wedge target. This target aligns with excitement in the community as RIF maintains its upside momentum after breaking key resistance.

In summary, Captain Faibik spotlights a bullish falling wedge reversal that could send RIF considerably higher if the technical pattern plays out as expected. With RIF already above $0.10, further upside appears likely given this constructive chart setup.

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Temitope Olatunji
Temitope Olatunji

Temitope is a seasoned writer with over four years of experience. He specializes in Web3 and FinTech topics and enjoys creating content in these areas. He holds both a bachelor's and master's degree in Linguistics. When not writing, he trades forex and plays video games.