RAVENCOIN Price Prediction Today: Daily (RVN) Value Forecast – June 17

  • The short-term outlook is the downtrend while the medium-term outlook is in a range-bound market.
  • Patience is required at the consolidation period.

RVN/USD Medium-term Trend: Ranging

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

RVNUSD remains in a range-bound market in the medium-term outlook. $0.05852 at the lower demand area was the low while $0.06465 at the supply area was the high of the market during the weekend as the coin continues in consolidation.

Today’s 4-hour candle at $0.06263 closed a spinning top with the bears taking control as RVNUSD dropped to $0.06101 below the two EMAs, which confirm the bears' strong pressure on price.

The signal of the stochastic oscillator points down at 59% an indication of downward momentum in price within the range in the medium-term.

RVNUSD is in consolidation and trading between $0.07000 in the upper supply area and at $0.06000 in the lower demand area of the range. A breakout at the upper supply area or breakdown at the lower area may occur hence patience is required to allow this to happen before a position is taken.

RVN/USD Short-term Trend: Bearish

The lower demand area of the range at $0.06300 was broken due to the strong bears' pressure within the range on 14th June. RVNUSD fell to $0.05869 before exhaustion with the bulls staging a comeback. $0.06430 at the supply area around the trendline was a key rejection area.

RVNUSD rose to $0.06300 shortly after today’s opening but fell to $0.06110 in the demand area as the bears continue the journey down south.

$0.05900 in the demand area may be retested as the initial target with $0.05700 as the next in the short-term.

Live Ravencoin (RVN) Price:

1 RVN/USD =$0.0189 change ~ 2.80%

Coin Market Cap

$123.29 Million

24 Hour Volume

$2.8 Million

24 Hour VWAP

$0

24 Hour Change

$0.0005

 

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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