Ravencoin Price Prediction
Methods To Predict The Price Of Ravencoin (RVN)
Getting Started -
What Is Ravencoin?
Ravencoin is a privacy oriented peer-to-peer cryptocurrency forked from the original Bitcoin. Ravencoin experienced high volatility in 2019 with a low of $0.01 and a high of $0.08. Today we’ll be looking at how you can use methods such as technical and fundamental analysis to formulate your own Ravencoin price prediction
Ravencoin (RVN) is available for purchase on the following exchanges
If you’re unfamiliar with how to buy Ravencoin (RVN), follow the link below.
Price Action -
Analyzing The Price Of Ravencoin (RVN)
One of the simplest methods to predict the future price of a cryptocurrency like Ravencoin (RVN) is by looking at prior price history on a chart. Through the use of common technical analysis techniques such as identifying horizontal support and resistance levels, calculating moving averages and calling on indicators to signal strength or weakness in the market.
The large majority of popular cryptocurrencies are available to chart and analyze on TradingView. TradingView integrates with popular exchanges like Binance, Huobi, ByBit, Kucoin and many more to offer real-time price data on a wide range of Altcoins such as Ravencoin (RVN).
Price Action -
Analyzing The Price Of Ravencoin (RVN)
One of the simplest methods to predict the future price of a cryptocurrency like Ravencoin (RVN) is by looking at prior price history on a chart. Through the use of common technical analysis techniques such as identifying horizontal support and resistance levels, calculating moving averages and calling on indicators to signal strength or weakness in the market.
The large majority of popular cryptocurrencies are available to chart and analyze on TradingView. TradingView integrates with popular exchanges like Binance, Huobi, ByBit, Kucoin and many more to offer real-time price data on a wide range of Altcoins such as Ravencoin (RVN).
Technical Analysis -
Identifying Support & Resistance Levels
Identifying levels of support and resistance are often all it takes to gather a basic idea of where price of cryptocurrencies like Ravencoin may be headed. Horizontal resistance levels can be identified by counting the amount of times a price is tested and rejected on an attempt upwards. Horizontal support levels can be identified by counting the amount of times a a price tests and bounces from a particular price on the way down.
In the following chart we can see that RVN has had many interactions with the marked yellow areas. From a daily outlook we can see several areas where support has become resistance and vice versa. Because these areas have been interacted with several times, we can assume price is likely to continue reacting at these marked levels. From this data you may be able to create your own RVN price prediction and trade accordingly.
Technical Analysis -
Using Moving Averages
Moving averages are used by many Traders to assess momentum and potential levels where price is likely to bounce from a downtrend or start slowing down after an uptrend. With the use of several important moving averages such as the 20, 50, 100 and 200, Traders can get a good idea of where to buy Ravencoin (RVN) and where to sell for profit.
In the following image we can see that RVN has had several interactions with the 1D 100MA which is represented by the dull green line running through the chart. From this we can assume that this line will remain important in a Traders decision to buy or sell Ravencoin (RVN)
For long term investing or trading, look at moving averages on the daily or weekly charts for important levels in which to form your Ravencoin (RVN) price prediction.
Technical Analysis -
Using Moving Averages
Moving averages are used by many Traders to assess momentum and potential levels where price is likely to bounce from a downtrend or start slowing down after an uptrend. With the use of several important moving averages such as the 20, 50, 100 and 200, Traders can get a good idea of where to buy Ravencoin (RVN) and where to sell for profit.
In the following image we can see that RVN has had several interactions with the 1D 100MA which is represented by the dull green line running through the chart. From this we can assume that this line will remain important in a Traders decision to buy or sell Ravencoin (RVN)
For long term investing or trading, look at moving averages on the daily or weekly charts for important levels in which to form your Ravencoin (RVN) price prediction.
Technical Analysis -
Utilizing Indicators
Indicators can assist Traders in making a prediction on whether the price of Ravencoin (RVN) will go up or down. Indicators take into account various factors such as time, volume, momentum and many more to indicate whether a cryptocurrency like Ravencoin (RVN) should to rise or fall.
In the following image we can see that the RSI (Relative Strength Index) Indicator which is used by a large majority of Traders is located at the bottom of the chart. The areas above and below the dotted lines indicate whether Ravencoin (RVN) is overbought or oversold.
We’ve highlighted several different occasions where RVN has been overbought or oversold which quickly resulted in a change in overall trend.
Fundamental Analysis -
Assessing Strengths & Weaknesses
Another way to make a Ravencoin (RVN) price prediction is by assessing what the project has accomplished or plans to accomplish in the near future. Keeping up to date with Ravencoin (RVN) news and planning the buy or sell Ravencoin (RVN) around key events is a method long term Traders use consistently.
While technical analysis may assist Traders in deciding when to buy or sell Ravencoin (RVN), fundamental analysis can often help forecast future price based on the knowledge of upcoming notable events or breaking news which may have an immediate and unexpected affect on price, regardless of what the charts show.
Keeping up to date with important Ravencoin (RVN) news will give Traders an edge where technical analysis falls short.
Fundamental Analysis -
Assessing Strengths & Weaknesses
Another way to make a Ravencoin (RVN) price prediction is by assessing what the project has accomplished or plans to accomplish in the near future. Keeping up to date with Ravencoin (RVN) news and planning the buy or sell Ravencoin (RVN) around key events is a method long term Traders use consistently.
While technical analysis may assist Traders in deciding when to buy or sell Ravencoin (RVN), fundamental analysis can often help forecast future price based on the knowledge of upcoming notable events or breaking news which may have an immediate and unexpected affect on price, regardless of what the charts show.
Keeping up to date with important Ravencoin (RVN) news will give Traders an edge where technical analysis falls short.
Those Are The Tools
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