Ravencoin is a forked model of Bitcoin which makes use of the identical UTXO mannequin of the primary blockchain. Bitcoin offered an enormous rally within the final two years, so many individuals count on an identical rally from Ravencoin. Nonetheless, many consultants suppose macroeconomic elements will play an important position within the subsequent few years.
The potential danger of a recession might end in an outflow from crypto markets. Furthermore, Bitcoin is a superior and extra standard crypto, so many individuals want BTC over RVN. Learn our Ravencoin worth prediction in case you are within the coin. It is going to allow you to make the precise choice for long-term funding.
On the time of penning this publish, RVN was buying and selling at round $0.04, which is a assist for the brief time period. Based mostly on the technical charts, we are able to assume a consolidation between $0.055 and $0.025. Nonetheless, after hitting a latest excessive of $0.075, the momentum has modified.
Although RSI is above 45 and bullish, we predict it isn’t a really perfect time for short-term funding as a result of it could not type increased highs this time. Ravencoin’s candlesticks are forming across the baseline of the Bollinger Bands, which signifies it could come right down to the assist of $0.023. It is best to look ahead to a number of days to test the momentum earlier than investing for the brief time period.
After an extended downtrend, Ravencoin has taken assist at round $0.02, and it has been buying and selling throughout the higher half of the Bollinger Bands, which suggests bullishness for the long run. Furthermore, candlesticks have shaped the next low at round $0.027, they usually can type one other increased low at round $0.034.
We expect RVN is a dangerous funding for the long run as a result of $0.075 is a robust resistance. It is best to solely make investments when it decisively breaks a vital resistance degree.