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 cryptocurrency that focuses on security and decentralization, allowing for secure and efficient transactions. Ravencoin’s proof-of-work consensus algorithm ensures the integrity of the blockchain and prevents centralization. With its emphasis on community governance, Ravencoin fosters a collaborative environment for developers and users to contribute to the network’s growth and development.
Ravencoin Price Overview:
As of October 02, 2023, Ravencoin is trading at approximately 0.01533 USDT. Let’s dive into the detailed price action for RVN-USDT:
| Metric | Value |
|---|---|
| Open (O) | 0.01593 |
| High (H) | 0.01616 |
| Low (L) | 0.01509 |
| Close (C) | 0.01533 |
| Volume (C) | 69,235,245.40 |
- Open (O): The opening price for today’s trading session was approximately 0.01593 USDT.
- High (H): Ravencoin reached a daily high of around 0.01616 USDT.
- Low (L): The daily low for RVN-USDT was approximately 0.01509 USDT.
- Close (C): At the time of analysis, Ravencoin is trading near its daily close of 0.01533 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | -3.65% |
| 3D Change (%) | 0.52% |
| 7D Change (%) | 4.57% |
| 30D Change (%) | 2.20% |
| 90D Change (%) | -26.86% |
| YTD Change (%) | -17.36% |
Over the past three days, RVNUSDT has risen by approximately 0.52%, showcasing increased market volatility. Throughout the last week, it continued to rise, with a gain of around 4.57%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with RVNUSDT maintaining an upward trend of approximately 2.20%, despite intermittent fluctuations. Examining the last 90 days, RVNUSDT has witnessed substantial drop of approximately -26.86%, reflecting strong long-term confidence. Year-to-date, RVNUSDT has steadily depreciated by around -17.36%, 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 0.30288.
- Momentum score is 0.022.
RVN USDT Technical Analysis
Ravencoin Trading Volume:
The trading volume for Ravencoin (RVN) over the past 24 hours has been significant, with approximately 69,235,245.40 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 above the 50-day SMA, indicating short-term bullish momentum.
- 200-day Simple Moving Average (SMA): Ravencoin is also trading above the 200-day SMA, indicating a positive long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for RVN-USDT is currently in the neutral zone, around 46.65712. This suggests that Ravencoin is in range-bound territory.
Analysis from TradingView:
Our Key Takeaways:
Ravencoin (RVN-USDT) is currently exhibiting signs of short-term bullish 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 neutral RSI and significant trading volume are neutral signals for potential sideways 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.
