• Ravencoin is in a range-bound market. • Patience is required at this period.
Distribution zones: $0.070, $0.080, $0.090 Accumulation zones: $0.038, $0.020, $0.010
RVNUSD Long-term Trend: Ranging
RAVENCOIN continues in a range-bound market in its long-term outlook. The bears’ pressure was sustained as it continues to push the price of RVNUSD further down breaking the two EMAs with a large bearish candle at $0.050 in the accumulation area during the session last week. However, the formation of the doji candle at $0.048 at the close of yesterday session signaled a trend reversal. Hence bulls’ brief returned.
Price was back within the range with a push to $0.052 in the distribution area as the market opens today on the daily candle as the cryptocurrency continues in the range. Price of RAVENCOIN is initially up at $0.0053 in the distribution area.
With the price of RVNUSD above the EMA-4 and the stochastic signal pointing up at around level 24% suggests that the momentum in the price of the coin is in an uptrend within its range.
RVNUSD is in consolidation and trading between $0.082 in the distribution area and $0.038 in the accumulation area of the range. A breakout at the distribution area or a breakdown at the accumulation area may occur hence patience is required to allow this to happen before a position is taken.
Live Ravencoin (RVN) Price:
1 RVN/USD =$0.1344 change ~ -11.86%
Coin Market Cap
24 Hour Volume
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The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.
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Azeez began his FinTech career path in 2008 after growing interest and intrigue about market wizards and how they managed to become victorious on the battlefield of the financial world. After a decade of learning, reading and training the ins and outs of the industry, he’s now a sought after trading professional, technical/currency analyst and funds manager - as well as an author.