- Ravencoin price is observing a weak upside momentum in price but can soon revert to a new high. It is trading with a loss of more than 2.5% in the intraday session
- Technical indicators of the RVN price hints towards a bearish momentum for upcoming days, Meanwhile, RVN/BTC pair is up by more than 0.01% in the past 24 hours
Why To Invest In RVN Coin?
RVN coin price is seeing a strong downtrend on the daily chart which can push it below to a new low. Raven Coin price is down by more than 2.75% and is trading near the value of $0.1159. The ROI of Ravencoin is more than 100% which has profited the institutional and retail investors . It is a digital peer-to-peer platform which aims to implement a specific blockchain, which is always been designed to efficiently handle one role which is to transfer the asset from one point to another without any trouble. The platform was built on a Bitcoin fork code and the mainet of the asset came in 2015 . They are aiming to solve the problems of asset transfer on the blockchain and trading. RVN price might see a downtrend in the future. One can invest in RVN according to their price action and risk adversity.
RVN coin has observed a decline in the market cap and market dominance in the past few days. Raven Coin volume is also seeing an increase in the past few days. The volume to market capitalization ratio of Raven price suggests a consolidated momentum in price for the future . One can invest in RVN as per their risk capacity and price action.
RVN Coin Price Technical Indicators Suggests A Bearish Momentum In Price
The weekly technical chart of the RVN coin hints towards a bearish momentum in price for the future . On coming to the daily chart the coin price is also observing a downside momentum. The bullish momentum of RVN price might face a hostility near the value of $0.12691 Meanwhile on going downside one can see a support near $0.11. The price is currently trailing below the 50 and above 100 Daily Moving Average. The 100MA line of the RVN is near $0.8815 making a temporary support of the price. If the coin price goes above $0.125, then a strong bullish trend can be seen in the price. RVN/BTC pair can also observe a new high in the future.
Conclusion
RVN coin price is currently seeing a correction on the daily chart but can soon see a new high. RVN/BTC pair can also see a new high in the future
Technical Levels
Major Support:$0.111
Major Resistance:$0.25