RavenCoin is a digital P2P platform that is programmed for providing one specific function: to transfer assets from one party to the other. It is built on the nodes of Bitcoin. It was established in 2017 and the binary (RVN) was listed in 2018. Let us now <a href="https://www.cryptoknowmics.com/news/rvn-technical-analysis-fantastic-growth-by-300-is-just-around-the-corner/">check the technical analysis</a> of RVN.
<h2><b>Past Performance of Ravencoin</b></h2>
On October 18, 2021, RVN opened at $0.1074. On October 21, 2021, RVN closed at $0.1189. Thus, in the past week, RVN increased by approximately 10%. In the last 24 hours, RVN has traded between $0.1162-$0.1246.

<img class="tv-snapshot-image" src="https://s3.tradingview.com/snapshots/g/g6rGu9yr.png" alt="TradingView Chart" />

<a href="https://www.tradingview.com/x/g6rGu9yr/">https://www.tradingview.com/x/g6rGu9yr/</a>
<h2><b>RVN Technical Analysis </b></h2>
Currently, RVN is trading at $0.1213. The price has increased from the day’s opening price. Thus, the market seems bullish.

The <strong>MACD and signal lines</strong> are entering the bullish zone. Moreover, a bullish crossover by the Signal line over the MACD line has occurred. Thus, the overall market momentum is bullish. Hence, the price may further rise.

Currently, the <strong>RSI indicator</strong> is at 61.9%. It faced rejection at 49% and came back to this level. Thus, buying pressures are slowly mounting for RVN. We have to wait and watch if buying pressures become strong enough to bring about a bearish trend reversal.

When we look at both the oscillators, we can say that the price may continue to rise. However, we cannot rule out the possibility of a trend reversal. We have to wait and watch to see if an intermittent price rise is a corrective action or the beginning of a positive trend.
<h2><b>Day-Ahead and Tomorrow </b></h2>
Currently, the RVN price is below the <strong>second Fibonacci pivot point</strong> of $0.1430. The $0.1430 level is a great resistance level. If the bulls remain strong till day end, then the price is likely to rise above and highlight the first, second, and third resistance levels of $0.1569, $0.1636, and $0.1772, respectively.

In previous trading sessions, the price has tested and fallen below the 23.6%<strong> FIB retracement level</strong> of $0.1300. It may soon retest the <strong>23.6% FIB retracement level</strong> of $0.1137. Thereafter, we have to wait and watch if the price breaks out of these levels. In that case, the price upswing is likely to continue tomorrow as well.

RVN Technical Analysis: Price Below the Second Fibonacci Pivot Point of $0.1430, Important Resistance Level

RVN price has tested and fallen below the 23.6% FIB retracement level of $0.1300. It may soon retest the 23.6% FIB retracement level of $0.1137. Thereafter, we have to wait and watch if the price breaks out of these levels. In that case, the price upswing is likely to continue tomorrow as well. 

Ankita is reading geek by birth, she loves to read and write about finance and now cryptocurrencies and blockchain since 2017. A Bitcoin enthusiast ever since, she likes to understand businesses and how they affect everything else. Ankita contributes on our news bulletin with the latest happening in blockchain, crypto and ICO market specifically.

RVN Technical Analysis: Price Below the Second Fibonacci Pivot Point of $0.1430, Important Resistance Level

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