In this Ravencoin technical analysis, we will examine the current price action, trading volume, key levels and indicators for RVN-USDT. Ravencoin (RVN) is a blockchain-based platform that focuses on creating a decentralized governance and voting system. It utilizes a proof-of-work consensus algorithm and has a block time of 1 minute, allowing for fast and secure transactions. RVN’s unique features and capabilities make it an attractive option for those looking for a more democratic and community-driven cryptocurrency.
Ravencoin Price Overview:
As of June 20, 2024, Ravencoin is trading at approximately 0.02053 USDT. Let’s dive into the detailed price action for RVN-USDT:
| Metric | Value |
|---|---|
| Open (O) | 0.02008 |
| High (H) | 0.02139 |
| Low (L) | 0.01994 |
| Close (C) | 0.02053 |
| Volume (C) | 50,361,241.30 |
- Open (O): The opening price for today’s trading session was approximately 0.02008 USDT.
- High (H): Ravencoin reached a daily high of around 0.02139 USDT.
- Low (L): The daily low for RVN-USDT was approximately 0.01994 USDT.
- Close (C): At the time of analysis, Ravencoin is trading near its daily close of 0.02053 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | 2.19% |
| 3D Change (%) | -4.47% |
| 7D Change (%) | -13.88% |
| 30D Change (%) | -35.01% |
| 90D Change (%) | -19.87% |
| YTD Change (%) | -2.47% |
Over the past three days, RVNUSDT has fallen by approximately -4.47%, showcasing increased market volatility. Throughout the last week, it continued to decline, with a loss of around -13.88%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with RVNUSDT maintaining a downward trend of approximately -35.01%, despite intermittent fluctuations. Examining the last 90 days, RVNUSDT has witnessed substantial decline of approximately -19.87%, reflecting strong long-term confidence. Year-to-date, RVNUSDT has steadily dropped by around -2.47%, 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-USDT 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 0.60639.
- Momentum score is -0.28116.
RVN USDT Technical Analysis
Ravencoin Trading Volume:
The trading volume for Ravencoin (RVN) over the past 24 hours has been insignificant, with approximately 50,361,241.30 USDT 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-USDT is currently in the low zone, around 38.09177. This suggests that Ravencoin is in bearish territory.
Analysis from TradingView:
Our Key Takeaways:
Ravencoin (RVN-USDT) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the USDT monthly resistance level and the USDT support level for potential trading opportunities. Additionally, the low RSI and insignificant trading volume are low signals for potential downward movement.
Ravencoin (RVNUSDT) faces challenges, trading at 2.05e-02 USDT, as technical analysis signals weakened support and cautionary indicators.
Missing our detailed breakdown on RVN BTC Ravencoin Technical Analysis would be a lost opportunity if you found value in this post.
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.