Ravencoin Prediction: Long-term (RVNUSD) Value Forecast – June 11

• Ravencoin is in a long-term bearish trend.

• There has been some bullish effort in recent times, which is not strong enough to override the major bearishness in the market.

• Supply zones: $0.07, $0.075, $0.08
• Demand zones: $0.055, $0.05, $0.045

RVNUSD Long-term Trend: Bearish

RAVECOIN is in a downward trend in its long-term outlook. $0.068 in the supply area as the high of the day was attained yesterday by the bulls. However, the close of the day at $0.067 with a wick candle suggests exhaustion of the bullish momentum, hence bears brief return.

The bears’ pressure on the coin led to a drop in price to $0.062 with the formation of a bearish candle at the lower demand area of the market. The momentum in price continues in a downward trend as it journeys down south around $0.062 in the lower demand area. This indicates the sellers are coming into the market in a grand style.

Price is below the exponential moving average 4 around the lower demand area, which suggests a downward momentum in the price of Ravencoin.The stochastic oscillator is pointing downward around the level 50%, an indication that the price is coming down gradually.However, patience coupled with a retest is needed before a position is taken.

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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