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Weekly forecast Ravencoin technical chart
Symbol RVNUSD

Download MT4 template file

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (0.05 to 0.04). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set buy orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (0.05)
    • Support on 02/11/2021
    • Support on 02/12/2021
    • Support on 06/22/2021
    • Support on 06/23/2021
    • Support on 06/25/2021
    • Support on 06/26/2021
    • Support on 07/08/2021
    • Support on 07/09/2021
    • Support on 07/13/2021
    • Support on 07/14/2021
    • Support on 07/20/2021
  • Ending of entry zone (0.04)
    • Resistance on 01/30/2021
    • Support on 06/22/2021
DateJuly 23, 2021 - 13:36
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 0.02615, beginning of uptrend is expected.
  • We make sure when the resistance at 0.10305 breaks.
  • If the support at 0.02615 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • The Falling Wedge taking shape and as a bullish pattern suggests we will soon see another leg higher if price breaks and closes above downtrend.
  • There is a divergence in RSI and price between the trough at 0.0536 on 2021-05-23 and the trough at 0.0405 on 2021-06-22, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
  • A peak is formed in daily chart at 0.06 on 07/18/2021, so more losses to support(s) 0.05, 0.04 and minimum to Major Support (0.03) is expected.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 49.

Take Profits:

  1. 0.06
  2. 0.08
  3. 0.10
  4. 0.13
  5. 0.15
  6. 0.18
  7. 0.27
  8. 0.29
Click on the level to view price action history.
Symbol Released Current Forecast
Ravencoin (RVNUSD) Sat, 13 Apr 2024
Ravencoin (RVNUSD) free Sat, 6 Apr 2024
Ravencoin (RVNUSD) free Sun, 31 Mar 2024
Ravencoin (RVNUSD) free Sat, 23 Mar 2024
Ravencoin (RVNUSD) free Sun, 17 Mar 2024
History
Daily-Trading-Opportunities on RVNUSD.