RVNUSDT trade ideas
RVN making a move - Could be a lucrative long hereRVN has been on a downtrend for over 2 weeks and has broken the resistance on 2hr and LTF. The trend change means this long could be quite lucrative as RVN held the support despite the RavenCoin attack news recently as the Developers have been quick in acknowledging the vulnerability and reacting quickly to the event. Ravencoin has a strong community and despite the recent news, the Technicals and the trend looks in favor of Bulls.
The 2 hr chart shows Trade Entries with Targets achieved so far and ones that have not been hit (Chart uses Plug and Trade to generate entries based on TrendRider - both Premium scripts). If this trend continues, the next targets open up bigger ranges for longs and hence the reward is pretty high here compared to the risk.
Recommended Stop Loss - 0.017-0.019 - based on personal risk strategy and timeframe traded
As with any trade, Do Your On Research as crypto currency trading has its risks as the market is quite volatile and is dependent on BTC moves.
RVNUSDTRVNUSDT, the trend has been slightly increasing and just broke the support line. It might go up or down.
1. If it goes up, wait for an open-close candle above the line then buy because of expecting more increases. (keep your eyes on the downtrend line for the next movement.)
2. If it goes down, you wait for an open-close candle below the line then sell due to the fact that expecting decreases.
Possible Moves for RVNAscending Triangle is forming for RVN and it’s very close to S/R zone. EMA50 follows the price and direction is up
Technical detections are good also
RVNBTC | Apex | Symmetrical Triangle | Breakout Imminent Todays chart – RVNUSDT – Attempting to break the symmetrical triangle formation as it nears the apex
Points to consider:
- support and resistances converging (apex)
- Bullish Price action (sellers bought up)
- RSI above 50
- Strong volume
RVN trading within a mature symmetrical triangle where buyers have consistently bought up the sellers throughout the formation.
RSI breaking above 50 showing increasing strength in the market supporting the bullish bias.
Strong volume node is present, increasing volume follow-through is key for a continuation of this break.
Overall, in my opinion, a bullish breakout is imminent. A long trade will be validated on a retest of the neckline (conservative entry) or a break of the formation (aggressive entry) as both technical targets align with structural resistance.
What are your thoughts? Let me know in the comments below!
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As always, focus on you - and the money will too!
symmetrical triangleRVN USDT forming symmetriangle pattern and wait for breakout then we can take entry.
#RVN/USDT (May 30)RVN has some targets that whales will pump to : 0.024$ and 0.03$
You should buy it close to 0.02$ as possible
RVNUSDT4H RVNUSDT Analysis. Following blue channel, supports and resistances to open position. Not investment advise
RVN/USDTHello friends
According to the analysis I have done for this currency, I expect it to reach the targets I have set for it in the long run.
Be happy and successful
$RVN$RVN
The volume over the past few days have been increasing, If we manage to flip the $0.02 resistance, I think we can see it fly.
