Anderson suggests the Ravencoin crypto’s price is at a crucial point and it might be time for investors and traders to pay attention. RVN has declined in price from a high in February. Recent technical charting indicators show that RVN is at a resistance level and poised to break out of its current price pattern. If this happens, the cryptocurrency could experience a significant increase in value.
Ravencoin price prediction indicates that RVN crypto is in a make-or-break condition and if it breaks out, it will surge. RVN crypto has been declining through a descending triangle pattern and is currently at a crucial make-or-break condition. Analysts believe that if RVN crypto price registers its breakout, then it may surge with a strong upside trend. However, sellers may approach to pull RVN price below the lower trendline of the descending triangle pattern over the daily time frame chart.
Ravencoin price was at $0.01787 and has gained 0.22% of its market capitalization intraday while trading volume declined by 23% in the session. This demonstrates that sellers are trying to accumulate to pull RVN below the lower trendline of the descending triangle pattern. Volume to market cap ratio was 1.76%.
Ravencoin Price: Sustaining Momentum or Facing Detainment?
Ravencoin price prediction showcases sustainability issues in the crypto at the lower trendline of the descending triangle pattern over the daily time frame chart. RVN crypto is caged inside the declining triangle pattern since July 2023. Now is the time to finally escape the declining pattern and initiate its recovery phase. However, volume change is below average and needs to grow during the day’s trading session.
In recent developments, Ravencoin price has experienced a marginal 0.22% increase over the past week, yet it has encountered a decline of approximately 6.92% within the span of a month. Over the last three months, the RVN cryptocurrency has faced a setback of 12.90%, while its value has diminished by 37.32% over the preceding six months. Year to date, RVN has registered a decrease of around 3.56%.
Technical indicators suggest the declining momentum of Ravencoin price. Relative strength index (RSI) and moving average convergence divergence (MACD) shows the struggle of RVN crypto at the verge of descending triangle pattern.
RSI was at 40 and was trying to avoid oversold territory. The MACD line is overlapping with the signal line waiting for any type of crossover. Investors in Ravencoin crypto need to wait for any directional change over the daily time frame chart.
Ravencoin price prediction indicates that RVN crypto is at make-or-break condition and if it breaks out then RVN may surge high. Now is the time to finally escape the declining pattern and initiate its recovery phase. RVN crypto is caged inside the declining triangle pattern since July 2023. Over the last three months, the RVN cryptocurrency has faced a setback of 12.90%, while its value has diminished by 37.32% over the preceding six months. Technicals indicate a decline in momentum for Ravencoin cryptocurrency.
- Support Levels: $0.01765 and $0.01740
- Resistance Levels: $0.01808 and $0.01850
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Access source article via this site Ravencoin Could Be Poised To Move Higher And Recover In 2023 As RVN Approaches Recent Low Price