Ravencoin Price Analysis: RVN Plunge -6.29%, How Low Will It Drop?


  • Ravencoin’s EMA(10) shows a upward trend.
  • Ravencoin gain bullish momentum over the past week gaining 1.86%.
  • The price of Ravencoin has fallen by -6.29% in the previous 24 hours.
  • Current Ravencoin Price is 0.032 dollars

25 April 2024 : In this article we will walk you through Ravencoin price analysis for today or for next week and try to answer these frequently asked questions (FAQs), what is short term price prediction for Ravencoin, Is RVN a good investment? Ravencoin support & resistance levels etc. But before diving deep into the RVN technical analysis, let us talk about the current market conditions.

Market Analysis

Over the last twenty-four hours, there was a down fall of -1.84 percent, bringing the entire cryptocurrency market to $2,397,157,708,472. The total trading volume stands at $82,269,512,665. Bitcoin shares 53.37 percent of the entrie market while Ethereum has a dominance of 16.33%.
which resulted in Bitcoin's price rising to $64,975.81 level after an upward movement of 1.13%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price increase of 1.39 percent reaching to $3,181.58 during the previous 24 hours.
While publishing this blog, BNB traded at $616.19, following a price change of 1.83% within the same time frame. SOL the native coin of Solana is down by -0.91 and currently trading at $148.17. Additionally, Cocos-BCX reached $0.60 after seeing a decline of -0.77% in value.
These events indicate that the market is heading in a downward direction for short term. At this moment, a general negative dip can being seen throughout the crypto market.

Ravencoin Support and Resistance

Support and resistance are important technical indicators used to identify key price levels where the trend can change direction. Support is a level at which buyers become more active and stop the coin's price from falling any further. Similartly, Resistance is a level at which sellers become move active and stop the coin's price from moving higher.
Following are the support and resistance levels of Ravencoin (RVN)

RVN Resistance Levels RVN Support Levels
Resistance Level 1 $0.033 Support Level 1 $0.029
Resistance Level 2 $0.036 Support Level 2 $0.026
Resistance Level 3 $0.038 Support Level 3 $0.024

Ravencoin Performance

The price of Ravencoin (RVN) is at $0.032, down -6.29% in the past 24-hours and has a price change of 1.86% over the week. One day trading volume for BTC is 18,834,691.00 USD while total marketcap reached $390,549,190.00 USD. There are almost 12,156,804,605 are in circulation out of 12247777317.

Ravencoin Price Analysis

RVN price analysis for 25 April 2024 within a daily time frame explained below. we use Relative Strength Index(RSI), Moving Average Convergence and Divergence (MACD), Support levels, Resistance levels, different time period moving averages including Simple Moving Average (SMA) and Exponential Moving Average (EMA) to analyze the future movement of the Ravencoin.

Moving Averages Price Indicator
Simple Moving Average (10) 0.032 Buy
Exponential Moving Average (10) 0.032 Buy
Simple Moving Average (20) 0.034 Sell
Exponential Moving Average (20) 0.034 Sell
Simple Moving Average (50) 0.039 Sell
Exponential Moving Average (50) 0.039 Sell

The RVN/USD Moving Average Convergence and Divergence (MACD) indicator is indicating a short-term sell signal as the MACD line is moving below Signal Line Which means bears are dominating in the market. RSI implying near oversold phase while trading at 34 and is trying to break out of the bearish zone. The first support level for Ravencoin is at $0.029 while the second one is at $0.026. While taking about resistance the RVN has R1 and R2 at $0.033, $0.036 respectively. While RVN’s Williams %R indicator is at -65.646 for the 14-day time period indicating a neutral condition.A trade signal is possible at this range.

Conclusions

Ravencoin has few recovery chances and might continue testing immediate resistance level of $0.033 in the coming days. While the gradual bullish movement in the overall cryptocurrency space can keep RVN investors hopeful.