Ravencoin Price Analysis: RVN Up By 21.12%, Time to Buy?


  • Ravencoin’s EMA(10) shows a downward trend.
  • Ravencoin gain bullish momentum over the past week gaining 8.14%.
  • The price of Ravencoin rose by 21.12% in the previous 24 hours.
  • Current Ravencoin Price is 0.024 dollars

07 December 2022 : 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 $841,249,908,237. The total trading volume stands at $38,717,458,714. Bitcoin shares 38.53 percent of the entrie market while Ethereum has a dominance of 16.33%.
which resulted in Bitcoin's price dropping down to $16,856.37 level after a decline of -0.83%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price decrease of -1.91 percent reaching to $1,231.99 during the previous 24 hours.
While publishing this blog, BNB traded at $284.45, following a price change of -1.59%within the same time frame. XRP the native coin of XRP is down by -1.55 and currently trading at $0.38. Additionally, Dogecoin reached $0.096 after seeing a decline of -3.59% 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 $0.024, up 21.12% in the past 24-hours and has a price change of 8.14% over the week. One day trading volume for BTC is 39,130,418.00 USD while total marketcap reached $285,609,059.00 USD. There are almost 11,914,222,249 are in circulation out of 11914222249.

Ravencoin Price Analysis

RVN price analysis for 07 December 2022 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 Sell
Exponential Moving Average (10) 0.032 Sell
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 Ravencoin has break all its supports levels and things are not looking good for the crypto market. Currently, bears are in control of the market and successfully take RVN price below the crucial support level of $0.029. 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

There had been a positive trend for some time and it seems that the coin will continue it upward movement as long as it remains in the green area. You should only acquire crypto right now if you're prepared to book profit through short-term market moves.