- RVN token price continues to make long bullish candles in the daily chart.
- The token prices exceed the critical EMAs with a significant gap casting a solid bullish trend in the daily chart.
- The pair RVN/BTC trades at 0.000003661 BTC with an intraday rise of +27.04%.
The RVN Token price breaks above the resistance level of $0.13 with a bullish engulfing candle leading to a bullish breakout of a round bottom pattern. However, investors could observe a retracement back to the previous resistance level as a retest of a breakout of this enormous scale.
The recent bullish crossover in the daily chart of 200-day EMA with the 20-day EMA projects a bullish outgrowth and may lead to a bullish crossover of 100 and 200 days EMAs.
Presently, the market price of the RVN token is $0.1688, with an intraday rise in the market capital by +28.40%. Moreover, the intraday trading volume has inclined by more than +35%, indicating a rise in the number of buyers.
RVN Token Shows No Weakness In Bullish Trend.
The RVN token prices develop almost in a continuous line with no withdrawals yet. As a result, the coin price undergoes a rise in intraday trading volume driving to a breakout of several crucial resistance pivot levels.
The price action study insinuates that the coin price could hold the $0.086 mark and the $0.076 mark; however, if the bullish inclination proceeds, opposition at the $0.20 or $0.25 mark could change the price trend.
The technical charts for the last four hours attest that the coin price moves above all crucial EMAs. All of the essential EMAs are moving higher to attain bullish alignment.
The ADX indicator signals a boom in price trend momentum.
The price is trading higher the oblique parabolic SAR, depicting an uptrend with no abruption. Thus, the bulls appear to be in charge as per the parabolic SAR.
Conclusion: RVN Token price has recently broken above a large round bottom pattern in the daily chart, projecting a bullish rally’s start. Moreover, the upcoming bullish crossover of the 100 and 200-day EMA may push the higher post-retest price.
Support: $0.086 and $0.076
Resistance-$0.20 and $0.25