THELOGICALINDIAN - A falling block arrangement keeps the mediumterm absolute for Ravencoin
Ravencoin / USD Short-term amount analysis
Ravencoin has a bearish concise trading bias, with the cryptocurrency falling beneath its 200-period affective boilerplate on the four-hour time frame.
The four-hour time anatomy shows that a circuitous arch and amateur arrangement has formed, with the RVN / USD brace acid the neckline of the bearish pattern.
Technical indicators on the four-hour accept angry bearish and abide to move lower.
Pattern Watch
Traders should agenda that beasts accept afresh bootless to invalidate the bearish arch and amateur arrangement on the four-hour time frame.
Relative Strength Index
The RSI indicator is still bearish on the four-hour time anatomy and shows ambit for added downside.
MACD Indicator
The MACD indicator has angry bearish on the four-hour time anatomy and continues to accomplish a advertise signal.
Ravencoin / USD Medium-term amount analysis
Ravencoin has a bullish medium-term outlook, with the RVN / USD brace still trading able-bodied aloft its 200-day affective average.
The circadian time anatomy is assuming that a falling block arrangement has formed, with the RVN / USD brace testing lower afterwards a apocryphal abstruse blemish aloft the bullish pattern.
Technical indicators on the circadian anatomy are falling and are abutting to axis bearish.
Pattern Watch
Traders should agenda that falling block patterns are about bullish and accept a college allotment of success during uptrends.
Relative Strength Index
The RSI indicator has angry bearish on the circadian time anatomy and shows ambit for added downside.
MACD Indicator
The MACD indicator is attempting to about-face bearish on the circadian time frame.
Conclusion
Ravencoin is acceptable to appear beneath added downside burden in the concise if sellers can activate the bearish arrangement on the four-hour time frame.
The medium-term affairs for the RVN / USD brace still abide solid, with the falling block arrangement on the circadian time anatomy suggesting that cryptocurrency can still barter abundant higher.
The name isn’t actual descriptive, but Ravencoin is an absorbing activity we covered in our coin guide.
