RVN broke down from 143 sats level which was its horizontal support and 0.786 fib level.
It has retested this level and is about to go down in the coming weeks.
This has massive potential after ETH 2.0 because miners will shift to rvn because eth will no longer remain mineable which will increase ravencoin's price.
Buyers can look to buy at the supports...
RavenCoin appears to have broken out of a year long symmetrical triangle on the weekly chart after posting a strong hammer candle last week. Depsite the bearish sentiment that is being expressed by many frustrated traders, now is not the time to sell in my opinion. This chart with its double bottoming bullishly divergent MACD coupled with this pattern breakout...
Ravencoin is currently flying in a bearish channel, as seen on the weekly chart.
Possible upswing will be if/when it closes above the 20day moving average, but it still has to manage the upper channel trendline.
Ravencoin, similarly to Bitcoin, is halving block reward every 2,100,000 blocks. Because one block is generated approximately every 1 minute, the halving happens approximately every 4 years. Ravencoin halvings will continue to happen every 2,100,000 blocks until the reward can no longer be halved.
Earlier the reward for mining a block was 5000 RVN but after the...
♻️Condition : If 1-Day closes ABOVE 0.06$ zone
🔴Buy : 0.06
🔴Sell : 0.075 - 0.085 - 0.1
♻️Condition : If 1-Day closes BELOW 0.06$ zone
🔵Sell : 0.06
🔵Buy : 0.05
🚫Stoploss for Long : 10%
🚫Stoploss for Short : 5%
📈Red Arrow : Main Direction as RED PLAN
📉Blue Arrow : Back-Up Direction as BLUE PLAN
🟩Green zone : Support zone as BUY...
There's a green little dragonfly doji on the 5m at the bottom of this downtrend here. What do you think! Looks to have support, failure to hold .09200 could result in lower yet. .079-.087! Looks to have a stronger support at .09 thought that will be something to bust down. I bought on the dojjjj lol :) looking for a quick intraday 5-10% trade.
Thanks and Happy Trading!!!
#Ravencoin #RVN in a huge triangle...
Will the breakout be a continuation of the upwards direction?
What do you think? 😎
Drop me a nice comment if you'd like me to analyze any other cryptocurrency.
*not financial advice
do your own research before investing
With 1 hour to go it looks like RVN/USDT on binance is climbing to exactly the .786 fib lvl
This will end wave 4 and start Wave 5.
So a opportunity for a long here.
Your stop loss could under the wick of today and your goal could be a 1:1 or 1 lvl higher because it will run on some resistance.
Lets see if this plays out as expected
Raven coin has recently broke out of this bull flag pattern and is now looking to confirm it. That is the trade if you so choose to do it. the confirmation is it must close above the flag on the daily or weekly. Target is set at 40 cents good luck and have fun.
Remember, there is no guarantee.
This is not financial advice.
Recently I made an analysis on RVN and the incoming break out. Since then, RVN has appreciated over +25% in value, congrats if you took the trade.
For now, we're lacking follow-up because of BTC distress. I'm anticipating a re-test of the top resistance of the chart pattern.
Targets remain the same as before, placed at recent tops.