In this Ravencoin technical analysis, we will examine the current price action, trading volume, key levels and indicators for RVN-BTC. Ravencoin (RVN) is a blockchain-based cryptocurrency that focuses on security, speed, and decentralization. It utilizes a proof-of-work consensus algorithm and has a block time of 1 minute, allowing for fast and efficient transactions. Ravencoin’s unique features include a built-in messaging system and a voting mechanism for proposing and implementing changes to the network.
Ravencoin Price Overview:
As of October 02, 2023, Ravencoin is trading at approximately 0.0 BTC. Let’s dive into the detailed price action for RVN-BTC:
| Metric | Value |
|---|---|
| Open (O) | 0.0 |
| High (H) | 0.0 |
| Low (L) | 0.0 |
| Close (C) | 0.0 |
| Volume (C) | 5,737,138.00 |
- Open (O): The opening price for today’s trading session was approximately 0.0 BTC.
- High (H): Ravencoin reached a daily high of around 0.0 BTC.
- Low (L): The daily low for RVN-BTC was approximately 0.0 BTC.
- Close (C): At the time of analysis, Ravencoin is trading near its daily close of 0.0 BTC.
| Metric | Value |
|---|---|
| 1D Change (%) | -1.75% |
| 3D Change (%) | 0.00% |
| 7D Change (%) | 1.82% |
| 30D Change (%) | -1.75% |
| 90D Change (%) | -17.65% |
| YTD Change (%) | -50.44% |
Over the past three days, RVNBTC has fallen by approximately 0.00%, showcasing increased market volatility. Throughout the last week, it continued to increase, with a gain of around 1.82%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with RVNBTC maintaining a downward trend of approximately -1.75%, despite intermittent fluctuations. Examining the last 90 days, RVNBTC has witnessed substantial fall of approximately -17.65%, reflecting strong long-term confidence. Year-to-date, RVNBTC has steadily dropped by around -50.44%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
Ravencoin Live Chart:
You can access a live price chart for RVN-BTC on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.
Price Volatility and Momentum:
- Volatility score is 0.24685.
- Momentum score is -0.01754.
RVN BTC Technical Analysis
Ravencoin Trading Volume:
The trading volume for Ravencoin (RVN) over the past 24 hours has been significant, with approximately 5,737,138.00 BTC traded against RVN. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.
Moving Averages:
- 50-day Simple Moving Average (SMA): RVN is currently trading below the 50-day SMA, indicating short-term bearish momentum.
- 200-day Simple Moving Average (SMA): Ravencoin is also trading below the 200-day SMA, indicating a negative long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for RVN-BTC is currently in the low zone, around 44.6649. This suggests that Ravencoin is in bearish territory.
Analysis from TradingView:
Our Key Takeaways:
Ravencoin (RVN-BTC) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the BTC monthly resistance level and the BTC support level for potential trading opportunities. Additionally, the low RSI and significant trading volume are low signals for potential downward movement.
Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.
Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.
Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.
