- RVN coin shows the 20 and 100-day EMA’s are on the verge of giving a bullish crossover
- The RVN/BTC pair was trading at 0.000002908 BTC with a gain of 30.29 %
- The 24hr trading volume in RVN coin is $562.3 Million
The RVN shows the formation of a rounding bottom pattern in the daily time frame. The crucial resistance level for this pattern is $0.13, and currently, the price is trying to break out from it. Thus, if the price manages to sustain above this level, it could provide a fantastic long opportunity for the RVN traders.
Concerning the EMA, the BCH Coin shows a solid bullish trend as the price is moving above the 20, 50, 100, and 200 ema. Moreover, the coin chart also shows the 20 and 100 EMA’s are poised to give a bullish crossover, which could lure more buyers into the coin market.
The RSI (BULLISH) value is at 84, indicating a strong bullish momentum in the coin. However, the RSI has entered the overbought zone now.
RVN Coin Also Shows The Probability Of Cup And Handle
The RVN coin in the 4hr time frame shows some rejection candle at the $0.3 resistance level, suggesting the price also has a chance of getting reversed.
However, there were many cases where the rounding bottom pattern ended up being a Cup and Handle pattern, still providing the same opportunity for the traders. Thus, even if the price gets rejected from this resistance level, the long traders can still keep this coin on their watchlist to avoid missing the excellent opportunity.
The MACD indicator (BULLISH) shows that both the MACD line and signal lines are moving higher to the neutral zone (0.00), indicating bullish momentum in the RVN coin.
Conclusion: From the technical perspective, the RVN coin shows a great bullish outlook for its price action and indicators, providing a favourable scenario to hunt for good long opportunities in this coin. Thus, as mentioned above, the RVN coin shows two opportunities for its traders: one, if it directly sustains above the $0.3 mark, and second, if the later price makes a cup and handle. Anyhow, in both, the nearest target for the RVN traders would be the $0.158 mark.
Support– $0.13, $0.106
Resistance– $0.158