Ravencoin - RVN/USDT
In early March this year, Ravencoin had support at $ 0.023. After the great fall caused by the corona crisis, that support became resistance.
It can be said that the value of 0.023 USDT represents a great resistance. On the daily chart it can be seen that after a big drop Ravencoin tried five times to cross that value and failed.
Also on the daily chart it can be seen that the 200 day EMA line has been tried several times to cross but failed.
Considering that the more times one tries to cross the resistance, the weaker it becomes, and that the 200-day EMA line approaches the current value of Ravencoin, it is to be expected that these barriers will be crossed in next days.
After crossing the resistance at 0.023, the next resistance is at 0.030 USDT.
This is my idea not financial advice.
It can be said that the value of 0.023 USDT represents a great resistance. On the daily chart it can be seen that after a big drop Ravencoin tried five times to cross that value and failed.
Also on the daily chart it can be seen that the 200 day EMA line has been tried several times to cross but failed.
Considering that the more times one tries to cross the resistance, the weaker it becomes, and that the 200-day EMA line approaches the current value of Ravencoin, it is to be expected that these barriers will be crossed in next days.
After crossing the resistance at 0.023, the next resistance is at 0.030 USDT.
This is my idea not financial advice.
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