⠀Ravencoin price: $0.031 ⠀Key RVN resistance levels: $0.0377, $0.043, 0.053, $0.06 ⠀Key RVN support levels: $0.025, $0.020, $0.018, $0.015

*Price at the time of writing

Ravencoin price long-term prediction: Bearish

Ravencoin has remained in a perpetual bearish trend since the price plunged from the peak of $0.08 in June and the coin has been trading below $0.5 for the past two months. While relying upon the $0.2 support, RVN is now hovering around the channel's lower boundary at $0.031. Against Bitcoin, the token has managed to cross the 100-day simple moving average, an indicator of bullish momentum.

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How to buy Ravencoin on Binance

Following the latest psoitive momentum in the entire cryptocurrency space, Ravencoin has been able to record a gain of +3.20%. If the bulls can continue to power the market, the price of RVN could hit hit $0.0377, $0.042, $0.053 and $0.06, testing the channel's resistance.

As suggested on the Stochastic RSI, the RVN market is likely to fall if the price drops below the upper limit. The $0.025-$0.20 zones should act as support for the market. A further sell-off may bring the price to $0.18 and $0.15.

Still, Ravencoin is currently showing strength on the RSI indicator, reflecting the ongoing bullish bias in the market.

Ravencoin price medium-term prediction: Bullish

The price of Ravencoin has been following a higher high and higher low pattern on the 4-hour time frame following a short-term bullish reversal at $0.024, the current technical support.

As of now, the price of RVN has slightly dropped after meeting a rejection at $0.033. We can see the sell signal on the Stochastic RSI as the market may pull back to the channel's support. A significant drive beneath the channel could slump RVN to $0.028, $0.026 and $0.024.

For a bullish extension, we can expect buying pressure at $0.034 and $0.036. The RSI has recently fallen a bit but has remained positive, showing that buyers are still in play.

Ravencoin price short-term prediction: Bullish

The RVN trend has remained bullish on the hourly time frame for the past few days now, although the price might first need to pull back the channel support at $0.030 before we can see a bounce back to the channel's resistance at $0.033 and $0.034.

While the Stochastic RSI is extremely low due to the recent price cut, the RSI indicator is currently leveled at 50 to show an indecisive market. We can expect the price to further slip if the RSI continues its downward movement. Should the $0.030 support fail to contain the selling pressure, Ravencoin may paint a serious bearish scenario to the $0.029 and $0.028 supports.

Conclusion

Ravencoin is currently trending positively across the 4-hour and hourly time frames, but the daily time frame still reveals a bearish perspective. On the downside, the $0.03 support is an important level to keep the bulls on the track. If this support fails to produce a rebound, the price could roll back to the mid-year low at $0.020. Overall, the bulls have been in control of the RVN markets for about two weeks now.