Ravencoin
RVN is in a minimum priceRVN touched its supporting line and now the price is at the floor of upward channel. On the other hand RSI indicator trapped in a descending channel. If the static resistance at the price of 17.8 ¢ broken, the price of 28 ¢ is accessable for RVN; If not it will exit from bottom of channel and oscillat around 16 ¢ for a few weeks.
$RVN/BTC 8h (Binance Spot) Falling wedge breakout and retestRavencoin broke bullish and looks ready for continuation upwards after that pull-back.
Current Price= 0.00000335
Buy Entry= 0.00000334 - 0.00000310
Take Profit= 0.00000394 | 0.00000447 | 0.00000259
Stop Loss= 0.00000274
Risk/Reward= 1:1.5 | 1:3.06 | 1:5.73
Expected Profit= +22.36% | +45.65% | +85.40%
Possible Loss= -14.91%
Fib. Retracement= 0.5 | 0.786 | 1.272
Margin Leverage= 1x
Estimated Gain-time= 1 month
Time To Feed The Ravens AgainRaven is giving a nice buy signal. MacD cross on the daily, Heikin-Ashi turning green, breakout and retest of the 2 month long pennant it was consolidating inside of. Target near $0.49
Remember this is only my formed analysis outlook. This is not an endorsement or recommendation to buy or sell.
Please comment on my idea. Thanks.Raven had a huge rally couple months back and lately it has entered a long period of consolidation period which is actually a good thing.
It tried to breakout to the upside couple times in that period but can not. Therefore one should definitly wait 1-2 candle to close above the trendline before entering any trade. Also yesterdays volume was pretty good but cant manage to breach the trendline and now volume is decreasing. Therefore caution is advised before entering this trade.
Good luck and be responsible with your hard earned money!
Always watch out for opportunities but be carefull.
Ravencoin price action RVNUSDTAlmost 2 months ago, ravencoin achieved ATH at a price of $ 0.29. This was followed by a large correction of 60% to a price of $ 0.12. The correction stopped at 0.786 Fibonacci retricement level and then accumulation occurred and a triangle was formed. We are at a time when we can expect the resulting triangle to be broken. Taking into account other indicators (RSI is at a normal level) and that we are in a bull market, I expect a price increase.
Okay now Ravencoin have to be strong.Ravencoin now had a stronger correction. I am excited about which way it will continue