RAVENCOIN Price Prediction Today: Daily (RVN) Value Forecast – July 19
- The short and medium-term outlook is in a bearish trend.
- Selling may be considered at key supply areas.
RVN/USD Medium-term Trend: Bearish
Supply zone: $0.07000, $0.08000, $0.09000
Demand zone: $0.01600, $0.01500, $0.014000
RVNUSD continues in a bearish trend in the medium-term outlook. The 38.2 fibs predicted was attained as the bullish momentum continues to $0.04481 in the supply area before the momentum was lost. The close of the candle as an inverted pin bar suggest bearish continuation with $0.03804 in the demand area as the low of yesterday session.
Today 4-hour opening candle at $0.04297 closed as an inverted hammer after a minor push to $0.04509 in the supply area which is the 38.2 fib area, a trend continuation zone. The cryptocurrency was down to $0.04081as the journey down south continues.
Price is below the two EMAs and the signal of the stochastic oscillator points down at 57% implying a downward continuation in price movement. $0.03663 in the demand area is up for a retest and subsequent breakdown.
RVN/USD Short-term Trend: Bearish
$0.04520 has been a key supply area with aggressive reaction by the bears in pushing price down. After today’s opening at $0.04327 the bulls manage to push the coin into the key supply area at $0.04509 and closed with a wick denoting exhaustion as the bears stage a comeback.
The cryptocurrency fell initially to $0.04172 and later to $0.04081 breaking the support at the two EMAs.
The bears may sustain the momentum down south as confirmed by the signal of the stochastic oscillator points down at 21% suggesting a downward momentum in price in the short-term. $0.03800 in the demand area is on the cars as the pressure on the coin by the bears gets stronger.
Live Ravencoin (RVN) Price:
1 RVN/USD =$0.1524 change ~ -0.25%
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