Ravencoin Price Prediction 2021 – Will RVN Hit $0.50 Soon?

Ravencoin Price Prediction 2021 - Will RVN Hit $0.50 Soon?
  • Bullish RVN price prediction ranges from $0.084 to $0.222.
  • The RVN price might also reach $0.50.
  • RVN bearish market price prediction for 2021 is $0.049.

In RVN price prediction 2021, we use statistics, price patterns, ADX, and much other information about RVN to analyze the future movement of the cryptocurrency. 

Ravencoin, which was launched in 2018, is an open source fork of bitcoin that is particularly intended to facilitate the transfer of assets from one party to another. Users can create assets on the Ravencoin protocol that follow rules other than those of the platform.

Ravencoin is one cryptocurrency that is working to bring blockchain and Bitcoin’s original vision of decentralization to a successful conclusion not without some difficulties. Ravencoin’s main feature is its ability to be mined using a standard computer.

Current Market Status of Ravencoin (RVN)

According to Coingecko, the price of Ravencoin is $0.060 with a 24-hour trading volume of $45,964,472 at the time of writing. However, RVN dropped to 3.97% in the last 24 hours.

Moreover, RVN has a circulating supply of 9,296,585,000 RVN coins. Currently, RVN trades in cryptocurrency exchanges such as Binance, Tokocrypto, OKEx, Huobi Global and Upbit. 

Ravencoin (RVN) Price Prediction 2021

Ravencoin (RVN) holds the 106th position on CoinGecko right now. RVN price prediction 2021 explained below with a daily time frame. 

RVN/USDT Higher High and Higher Low Pattern (Source: Tradingview)

When the peaks and troughs on a chart ascend, an uptrend is occurring. Prices in that uptrend can be seen as higher highs and higher lows. Prices from the previous period that were seen as highs are now even higher than they were before the uptrend began.

Not only do the highs finish higher, but the lows from a previous period of time gain value and end up being higher than before. This indicates to a trader that prices are rising and the overall value is rising, indicating that it is time to sell and make a profit before a downtrend occurs.

Currently, RVN is waving at $0.060. After this, RVN may continue to fall according to the higher high and higher low pattern. With this pattern, RVN might reach the resistance level at $0.24 soon. If the trend reverses, then the price of RVN may fall to $0.040.

Ravencoin (RVN) Support and Resistance Level

The below chart shows the support and resistance level of Ravencoin (RVN). 

RVN/USDT Support and Resistance Level (Source: Tradingview)

From the above chart, it is observed that the following are the resistance and support level of RVN.

  • Resistance Level 1 – $0.084
  • Resistance Level 2 – $0.127
  • Resistance Level 3 – $0.222
  • Support Level 1 – $0.049
  • Support Level 2 – $0.027
  • Support Level 3 – $0.017

The chart depicts the bullish performance of RVN over the previous month. However, this trend will continue to reach resistance level at $0.24 soon. On the contrary, if the trend reversed then RVN might fall to $0.040 presenting a bearish signal.

Ravecoin (RVN) Average Directional Index (ADX)

Let us now look at RVN’s Average Directional Index (ADX). In particular, the ADX assists traders in determining the strength of a trend rather than its direction. It can also be used to determine whether the market is changing or if a new trend is beginning. It is, however, linked to the Directional Movement Index (DMI).

Moreover, the oscillator has a range of 0 to 100. In addition, a high value represents a strong trend, while a low value represents a weak trend. Furthermore, it is frequently combined with directional indicators.

RVN/USDT ADX (Source:TradingView)

The above chart represents the ADX of RVN with the range at 11.61, so it indicates a strong trend. Moreover, the price chart presents an uptrend crossover.

Conclusion

The RVN is one of the cryptos which is great for long-term investment. In addition, RVN price prediction will be bullish for a short-term period. It has a good chance of reaching $0.24 this year. However, this will only happen if many previous psychological barriers are broken.

Furthermore, with the advancements and upgrades on the RVN ecosystem, the performance of RVN would rise reaching $0.24 very soon. But, it might also reach $0.50 if the investors believe that RVN is a good investment in 2021.

Disclaimer: The opinion expressed in this chart solely author’s. It is not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.

Recommended for You

A devoted content specialist who is inquisitive on exploring crypto and blockchain technology. She is fond of providing innovative contents that tugged her to write for NewsCrypto.