- RVN coin shows the 100 and 200-day EMA’s are on the verge of giving a bullish crossover
- The RVN/BTC pair was trading at 0.000003379 BTC with a gain of 3.04 %
- The 24hr trading volume in RVN coin is $342.8 Million
As mentioned in my previous article on RVN coin, the coin price gave a decisive breakout from its rounding bottom pattern, providing an excellent first target of the $0.158 mark for RVN traders. However, as for now, the price is facing strong selling pressure above this level, projected by several long higher price rejection candles. Thus, traders should wait for more confirmation at this AOI to get a proper signal of price next move,
The RVN Coin EMA’s shows a strong bullish trend as the price is moving above the crucial EMA’s of 20, 50, 100, and 200. In addition, the coin chart also shows that the 100 and 200 EMAs are poised for a bullish crossover which could attract more buyers to the coin market.
The RSI (BULLISH) value is at 858, indicating a strong bullish momentum in the coin as the RSI line shows a steady growth towards the overbought zone.
RVN Coin Crypto Chart In The 4hr Time Frame
The RVN coin showed a remarkable rally in the chart as the price is knocking out higher resistance levels one after another. However, as mentioned above, the price is facing strong resistance from the $0.185 level, and if the price manages to break out from this level, the RVN traders could grab another excellent opportunity in this coin.
The moving average convergence/divergence indicator (BULLISH), which shows both signal and MACD lines moving higher to the neutral zone (0.00), indicates bullish momentum in the RVN coin. However, the indicators have also provided a bearish crossover, projecting a sell signal.
Conclusion: From the technical perspective, the RVN coin displayed a bullish outlook in price action and indicators, making a favorable scenario for trend traders interested in this coin. Anyhow, the $0.158 is the next barrier the price has to defeat, which could provide a target to the $20 mark.
Support– $0.158
Resistance– $0.18