RAVENCOIN Price Prediction Today: Daily (RVN) Value Forecast – June 21
- The short-term is in a downtrend while the medium-term outlook is in a range-bound market.
- Traders should wait for price breakout or breakdown trading the consolidation.
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. The market is still without a clear direction as price fluctuates within the range. $0.06498 was the high and $0.06085 was the low during yesterday session.
Todays’ 4-hour session had a brief the bulls pushed price up to $0.06368 before the bears dropped the coin at $0.06050 within the range.
The signal of the stochastic oscillator points down at 22% and price is below the two EMAs. These suggest a 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 bears retained control of the market at $0.06305 around the trendline during yesterday session. Price is kept below the two EMA as it drops to $0.06182 before the market close.
The bearish momentum was sustained as the market opens today at $0.06236 and already down to $0.06057 in the demand area.
The stochastic oscillator signal points down at 30% while price is below the two EMAs. The implication of downward momentum is price in the short-term.
$0.06000 is the bears' initial target as the journey down south continues with more candles open and closed below the two EMAs.
Live Ravencoin (RVN) Price:
1 RVN/USD =$0.1667 change ~ -3.54%
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