RAVENCOIN Price Prediction Today: Daily (RVN) Value Forecast – July 24
- The short and medium-term outlook is in a downtrend.
- Responsible selling at pullback areas with bearish candlesticks pattern as confirmation.
RVN/USD Medium-term Trend: Bearish
Supply zone: $0.07000, $0.08000, $0.09000
Demand zone: $0.01600, $0.01500, $0.014000
RVNUSD is in a bearish trend in the medium-term outlook. The bears had taken over the market as it opened yesterday at $0.05219. Increased momentum result to the break at the 10 and 50-EMA as the coin fell to $0.04862 and $0.04538 in the demand area respectively. $0.04469 was the low of the day, as it ended on a bearish note.
The market opened today at $0.04497 with the pressure weakened after the coin dropped to $0.05219 in the demand area due to exhaustion denoted by the wick and the candle closed as doji.
The bearish flag is been formed with the rally is currently up at $0.04492 as confirmed by the signal of the stochastic oscillator pointing up at 14%.
Price is below the two EMAs which suggest an overall downward momentum in price the medium-term with $0.0400 in the demand area as the initial target.
RVN/USD Short-term Trend: Bearish
The bears lost momentum at $0.04209 in the demand area shortly after today’s opening as the bulls return to the market with the pinbar formation. The rally is ongoing as the cryptocurrency rise to $0.05219 in the supply area.
The 50.0 fib area may be the bulls target at $0.04949 in the supply area as the journey up north continues due to the formation of a tea-cup at the area.
The bears may resume the downward continuation at this trend reversal area with $0.05219in the demand area as a target.
Live Ravencoin (RVN) Price:
1 RVN/USD =$0.1049 change ~ -1.29%
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