Ravencoin (RVN)

Ravencoin Prediction: Long-term (RVNUSD) Value Forecast – June 16

Azeez Mustapha
June 16, 2019

• The long-term outlook is in a bearish trend
• The bears remain in control of the market.

Distribution zone: $0.070, $0.075, $0.080
Accumulation zone: $0.050, $0.045, $0.040

RVNUSD Long-term Trend: Bearish

RAVENCOIN is in a bearish trend in its long-term outlook. The bulls increased momentum pushed price up to $0.065 in the distribution area, as the market opens yesterday. The price at $0.059 was the close of the day. The momentum was lost as exhaustion sets in with the formation of the bearish candle at $0.062 as the opening price today.

The coin dropped to $0.058 in the accumulation area with the pressure from the bears. This has changed the momentum of the price.

RVN dropped further to $0.058 in the accumulation area. Price is below the exponential moving average-4 and its wick touching the exponential moving average-50. This indicates that the bears are moving into the market in a grand style.

The stochastic oscillator signal is pointing downwards at around level 20% suggests that the momentum in price is in a downward trend.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

Azeez Mustapha

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.