$RVN Bounce from Support! 🚀 Reversal in Progress?
Ravencoin (
$RVN ) is showing a classic recovery pattern on the 4H chart! After hitting a local bottom at 0.00547, the bulls have stepped in, pushing the price back up to test key resistance levels. 📈
🎯 Trade Setup:
Entry Zone: 0.00590 – 0.00600 (Current Range)
Stop Loss (SL): 0.00540 (Below the recent bottom)
Target 1 (TP1): 0.00620 (Testing MA-99)
Target 2 (TP2): 0.00650
Target 3 (TP3): 0.00680+
🔍 Technical Analysis:
Moving Averages: RVN has successfully crossed above the MA(7) and MA(25), which is a strong bullish sign. Now, all eyes are on the MA(99) (purple line) for a breakout.
Support: The $0.00547 level proved to be a very strong floor.
Momentum: Buying volume is gradually increasing, indicating that the trend might flip to bullish.
⚠️ Risk Note: Always manage your risk and keep an eye on BTC movement, as it affects the entire market. 🛡️
Will
$RVN break the $0.0061 resistance today? Let’s hear your predictions! 👇
Click Trade Here 👇🏻
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