- Ravencoin is currently trading at $0.02012 while seeing a substantial 118.25% increase in 24-hour trading volume.
- 2 The price of Ravencoin has fallen by 1.98% over the past 7 days.
The Ravencoin price prediction suggests that the RVN token is currently facing serious rejection from the 200-day EMA. Despite making multiple attempts to break the resistance level, he hasn’t been able to overtake above it as of now.
Looking at the historical price action, it’s clear that buyers aren’t ready to give in at the moment. The price of Ravencoin has received consistent support from buyers close to $0.01800 over the past few weeks
.
Ravencoin is a peer-to-peer digital network that aims to implement a blockchain specific to the use case. It is designed to manage the transfer of assets from one side to the other. Ravencoin is built on a fork of a Bitcoin code and was launched on January 3
, 2018.
Decrease in LunarCrush Levels Regarding Ravencoin
There is a sharp dip in most of the parameters shown on the LunarCrush platform. The total bullish sentiment metric declined by 47.21%. A 65.49% drop in the total level of social commitment is observed, which suggests that potential investors in the community are
hesitant.
Big Increase in Investor Greed Sentiment
Investor sentiments regarding the overall cryptocurrency market are increasing significantly. The market sentiment metric had risen 16 points last week, when the index was approaching 49
points.
The current value of the sentiment index is 64 points in the greed zone according to the Alternative (dot) me platform.
Ravencoin Price Prediction: Technical Analysis on 1-Day Chart
The Relative Strength Index (RSI) line moves above the midline over the daily time frame. The current value of the RSI is 56.83 points and the value of the 14-day SMA is 50.87 points. The RSI line is creating a double-top model.
At present, the stochastic RSI has reached the overbought level and the value of the stochastic RSI is 92.84 points. The Stochastic RSI is making another positive crossover between the %K and %D line after gaining support near the midline on the 1-day chart
.
Conclusion
According to the analysis, the RSI and stochastic oscillators are moving close to resistance levels. Buyers are attempting to regain control of the Ravencoin chart, but the likelihood of their success is low, according to price action. When the price action is historic, it’s clear that buyers aren’t ready to relinquish their control over the price action, and the RVN token requires substantial effort on their part
to recover.
Support — $0.01500
Resistance — $0.03000
The opinions and opinions stated by the author, or by any person named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing or trading crypto assets involves the risk of
financial loss.
