RAVENCOIN Price Prediction Today: Daily (RVN) Value Forecast – July 31

  • The short and medium-term outlook is in the downtrend.
  • Responsible selling recommended.

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 predicted target at $0.04200 in the demand area was tested today as the bears establish dominance in the medium-term outlook. Although the market opened today on a bullish note $0.04326.

$0.04379 was the high attained by minor bullish momentum before exhaustion sets in as the candle closed as a bearish spinning top. The 10-EMA was a strong resistance against the rally with price repeated rejected around this area.

The stochastic oscillator signal points down at 13% in the oversold region and price is below two EMAs. These suggest continuous downward momentum in price in the medium-term. $0.04000 in the demand area is the bears' target as the pressure becomes stronger.

RVN/USD Short-term Trend: Bearish

The bears sustained the momentum down south with the retest at $0.04379 twice before the final break down during yesterday session with a large bearish engulfing candle. RVNUSD dropped to $0.04249 in the demand area before the correction that push price up to $0.04525 above the key supply area.

Today session opened on a bullish note at $0.04285. Increased momentum pushed the coin up to $0.04411 within the key supply area and lost momentum.

The cryptocurrency dropped to $0.04176 in the supply area with $0.04150 in the demand areas as the target in the short-term.

Price is below the two EMAs and the stochastic oscillator signal points down at 40%. These suggest a downward momentum in price in the short-term.

Live Ravencoin (RVN) Price:

1 RVN/USD =$0.0145 change ~ -0.64%

Coin Market Cap

$101.98 Million

24 Hour Volume

$1.8 Million

24 Hour VWAP

$0

24 Hour Change

$-0.0001

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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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.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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