Source : coinquora.com
- Bullish RVN price prediction ranges from $0.2 to $0.37.
- RVN price might also reach $0.5 soon.
- RVN bearish market price prediction for 2021 is $0.05.
This Ravencoin (RVN) Price Prediction 2021 article is based on technical analysis alone. Below, you will see the key metrics that we have taken into consideration upon coming up with our RVN price analysis and prediction.
This Ravencoin Price Prediction 2021 article is based on technical analysis alone. Below, you will see the key metrics that we have taken into consideration upon coming up with our RVN price analysis and prediction.
Among the cryptocurrencies that are rallying this year, Ravencoin is perhaps one of the most surprising for some. It is not directly connected to Bitcoin, nor is it the most hyped cryptocurrency today.
But for those that are aware, RavenCoin has been around since 2017. It recently made headlines after hitting almost $0.285 on Feb 20, 2021.
Can Ravencoin reach $ in 2021? We will find out shortly. But before we proceed to our Origin Protocol price analysis, let us first answer the question “What is RavenCoin?” in this RVN prediction 2021 article.
What is Ravencoin (RVN)?
Ravencoin is a digital peer-to-peer (P2P) platform that focuses on implementing a use case specific blockchain. Moreover, it is developed in order to handle one specific function, which is transferring of assets from one party to another. More so, it is developed on a Bitcoin code fork.
Now that we have an idea about RVN, do you think RVN will be profitable crypto in 2021? Join me and let us see the charts in this RVN price analysis and RVN price prediction.
RVN Current Market Status
As of the time of writing this Ravencoin price analysis, RVN trades at $0.135 with a 24-hour trading volume of $75,206,483. The price of RVN has decreased by 2.12% in the last 24 hours.
Furthermore, RVN has a current circulating supply of 10.06B RVN Currently, the top cryptocurrency exchanges for RVN are Binance, Huobi Global, OKEx, ZG.com, and HitBTC.
Now, let’s proceed to the next part of this RVN technical analysis for 2021.
Ravencoin Price Analysis 2021
Currently, RVN holds 112th place on CoinGecko. But will the latest upgrades, development, and changes in the RVN blockchain help the cryptocurrency price to reach higher? Let’s proceed to the charts in this RVN price prediction article.
In the daily frame chart shown above, we can see the Inverted cup with handle Pattern. Based on the graph above, the chart displays an inverted cup and handle pattern. Moreover, the pattern indicates a period of consolidation which might result and reach an immediate price breakout or breakdown. A breakdown from the upper trendline represents the start of a new bearish trend, while a breakout from the lower trendline shows the start of a new bullish trend.
As shown above, at the beginning of this month, RVN turned from its bull to bear trend. This is the result of the high trade volume that occurs during that time.
The Relative Strength Index (RSI) is above 34.19, which means that RVN is in a nearly oversold state. However, the traders could see huge price reversal. Hence, traders need to be aware and shift away from unexpected losses that occur due to the crypto market’s wild swings.
Let us also look at the Simple Moving Average (SMA) and the Exponential Moving Average (EMA) of RVN.
Since the start of 2021, RVN’s price has seen many bullish moves which are higher than the previous one. More so, these are followed by fluctuations, consolidation, and corrections right away. Taking this into consideration, RVN has a competitive market this 2021.
Ravencoin Price Prediction 2021
The chart below shows that Ravencoin has shown bearish performance over the past few days. Moreover, the RVN price has decreased 23% in the last 7 days. If this trend continues, RVN might run along with the bears, dethroning RVN to $0.055 support level and drop below.
Conversely, if the investors turn towards the crypto, the bulls might take over and overtake its resistance level at 0.37, a bullish signal.
Meanwhile, our long-term RVN price prediction 2021 is bullish. It has a high possibility of surging over its current all-time-high (ATH) at about $0.285 this year. However, that will only happen if it breaks many previous psychological resistances.
Ravencoin has a bright future ahead of it in 2021. With the ongoing developments happening within the RVN ecosystem, as well as in the overall crypto market, we may see RVN reach new heights.
Bullish RVN price prediction 2021 is $0.373. Added to this, it may even reach $0.5 if investors have decided that RVN is a good investment in 2021, along with mainstream cryptocurrencies like Bitcoin and Ethereum.
Users can obtain RVN tokens by purchasing them from cryptocurrency exchanges such as Binance, or Huobi Global.
RVN is a good investment in 2021. However, RVN has a high possibility of surpassing its current ATH at about $0.285 this year.
Yes, it’s very much possible that RVN might reach $0.5 in the near future.
Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.