- Ravencoin price is currently in a consolidation zone with a hint of bullish momentum. In contrast , RVN coin price may hit a new high in the near future
- Technical indicators for RVN token price suggest a bullish momentum for the upcoming days . Meanwhile, it is up by more than 500% from last year’s trading price .
Why To Invest In RVN Coin?
RVN coin price is currently trading near the value of $0.553 with an intraday gain of 5%. The ROI of Ravencoin is more than 100% which has remained a selling point for this project.
It is a digital peer-to-peer network which aims to implement a use case specific blockchain, which is designed to efficiently handle one role and that is to transfer the asset from one party to another. Raven coin came into existence in 2017 and is built on the Bitcoin fork code. It was named with the reference to the most popular Tv series Game of Thrones. They aim to solve the problems of asset transfer on the blockchain and trading.
RVN coin has a market capitalization of $1,160,312,858 and is ranked 103rd in the CMC.The volume of the Raven Coin is one the rise from the past few days. The volume to market capitalization ratio of the coin also suggests the upcoming uptrend. One can wait until the price makes a significant move .
Technical Indicators Suggests Towards An Upcoming Uptrend For RVN Coin Price
The weekly technical chart of the Ravencoin highlights a weak consolidated momentum for the upcoming days . On coming to the daily chart the price has started to sign for bullish momentum. Resistance for the RVN coin while going up can be seen near the value of $0.1. Meanwhile on the downside a bounceback in the price can be seen from $0.01. The price is currently trading below the 50 and 100 Daily Moving Average. The 50MA (RED) line is at $0.08624, making it a temporary resistance for the price. If the coin price goes above $0.1, then a strong bullish momentum can be observed. RVN/BTC pair can also see a strong upside momentum in the future
Conclusion
RVN coin price has remained profitable to its investors in the past and can be the same in future. RVN/BTC pair can also see a significant rise in the future. An Investor should do their due diligence before investing.
Technical Levels
Major Support:$0.01
Major Resistance:$0.1