A recent article by Omkar Godbole highlights a potential bearish signal for Bitcoin, which could also lead to bearish territory for smaller coins like RVN. The Guppy Multiple Moving Average (GMMA) indicator, a tool for identifying trend changes in the bitcoin market, is showing signs of a bearish crossover.
This shift follows a period of bullish momentum that began in mid-October when the short-term (green) band of EMAs crossed above the long-term (red) band, leading to a significant price surge from around $28,000 to nearly $49,000.
Currently, with the green band nearing a crossover below the red band, the indicator suggests growing bearish momentum, aligning with Bitcoin’s trade below the red band at $39,200. This pattern reflects the GMMA’s historical tendency to signal major market trends.
![](https://locicrypto-amp.b-cdn.net/wp-content/uploads/sites/891/2024/01/WBUAM5MRPREBPBXYJLUS7G2V6M.png)
Today Ravencoin is hovering around $0.0176, down from a February 23, 2023 high of $0.0348. If the trend continues, RVN could be headed to a recent low of $0.016.
![](https://locicrypto-amp.b-cdn.net/wp-content/uploads/sites/891/2024/01/RVN-following-BTC.png)
Disclaimer: The information provided on this page does not constitute investment advice, financial advice, trading advice, or any other sort of advice and it should not be treated as such. This content is the opinion of a third party and this site does not recommend that any specific cryptocurrency should be bought, sold, or held, or that any crypto investment should be made. The Crypto market is high risk, with high-risk and unproven projects. Readers should do their own research and consult a professional financial advisor before making any investment decisions.