• The short and medium-term outlook is in a downtrend.
• Responsible selling may be considered.

RVN/USD Medium-term Trend: Bearish

Supply zone: $0.07000, $0.08000, $0.09000
Demand zone: $0.01600, $0.01500, $0.014000

RVNUSD remains in a bearish trend in the medium-term outlook. The bears kept the momentum up shortly after yesterday opening at $0.05470. With a large bearish candle, price dropped to $0.04905 in the demand area.

Increased bearish momentum led to a further drop to $0.04758 before the momentum loss with the bulls taking over of the market. RVNUSD rose to $0.05253 before the end of yesterday session.

The bulls briefly sustained the momentum after today’s opening with the coin up at $0.05443 as the candle closed a bearish spinning top. Thus the bears took over as price of the cryptocurrency began to nosedive.

Price is below the two EMAs and the stochastic oscillator points down at 25% suggesting downward continuation in price of the cryptocurrency in the medium-term.

RVN/USD Short-term Trend: Bearish

The target at $0.05000 in the demand area was attained during yesterday session as the bears maintained a stronghold on the market. The coin plunges further down to $0.04797 in the demand area before exhaustion sets in.

The bears continue the journey down south at 0.5340 after the bulls lost momentum and upward price movement was resisted by the trendline.

With price below the two EMAs and the stochastic oscillator pointing down at 23%, it suggests downward momentum in price as long as price stays below the trendline.

$0.04500 in the demand area remains a target for the bears as the journey down south continues in the short-term.

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