• The cryptocurrency is in a range-bound market.
• Patience is required at this period.

Distribution zones: $0.08, $0.09, $0.10
Accumulation zones: $0.04, $0.03, $0.02

RVNUSD Long-term Trend: Ranging

Ravencoin continues in a sideways market in its long-term outlook. The bears increased momentum pushed price down to $0.044 in the accumulation area, as the market opens yesterday. The momentum was lost as exhaustion sets in coupled with the doji candle that signaled the bulls returned.

The cryptocurrency dropped to $0.043 in the accumulation area before the end of yesterday session as the coin returned within the range.

The bears’ exercised pressure at $0.043 in the accumulation area during yesterday session returned the cryptocurrency within the range.

Today’s daily opening candle at $0.046 was bullish as the bulls remained dominant in the market. RVNUSD increased further to $0.048 in the distribution area.

Price is above the EMA-4 and the stochastic oscillator signal pointing up at level 56% suggests upward momentum in the cryptocurrency price in the long-term within the range.

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 distribution area or breakdown at the lower accumulation area followed by a retest may occur hence patience is required to allow this to happen before a position is taken.

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