Riot Blockchain Inc. (NASDAQ:RIOT) shares are trading lower Wednesday, although many popular cryptocurrencies are trading higher today. The Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) miner typically trades with the crypto market but is possibly trading lower as tensions rise in Russia and Ukraine.
Riot Blockchain was down 0.18% at $15.92 at time of publication.
See Also: 15 Stocks To Watch During Russia-Ukraine Confllict
The stock is seeing a day of bearish movement and is nearing the end of the pattern. The stock could see a breakout in the coming weeks if the price starts to make a strong push in one direction.
Bullish traders are looking to see higher lows form and for the stock to cross above the resistance line and be able to hold above it. Bulls are also looking for the RSI to cross above the middle line and start heading toward the overbought area.
Bearish traders want to see the RSI continue to drop and for the price to crack below the pattern support.
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