Ravencoin Prediction: Long-term (RVNUSD) Value Forecast- July 21
• The cryptocurrency is in a range-bound market.
• Patience is required in trading the consolidation.
Distribution zones: $0.08, $0.09, $0.10
Accumulation zones: $0.04, $0.03, $0.02
RVNUSD Long-term Trend: Ranging
RVNUSD long-term outlook continues in a range-bound market. $0.05 in the distribution area was the high of the day attained yesterday as the bulls remained in control within the range. The close of the daily candle at $0.048 with a doji suggests exhaustion of the bullish momentum hence the bears brief returned.
Today’s daily candle opens at $0.048 in the accumulation area was on a bearish note.
The bears' pressure on the cryptocurrency led to a drop in price to $0.045 at the lower price range.
Price is hovering around two EMAs and the stochastic oscillator signal points up at level 51%. These suggest upward momentum within the range in the long-term.
RVNUSD is in consolidation and trading between $0.08 in the upper distribution area and at $0.03 in the lower accumulation area of the range.
A breakout at the upper supply area or breakdown at the lower area followed by a retest may occur hence patience is required to allow this to happen before a position is taken.
Live Ravencoin (RVN) Price:
1 RVN/USD =$0.0292 change ~ -2.88%
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