The RVN price action shows a remarkable increase in the buying pressure as the market value has increased by almost 50% within the last 48 hours. Key technical points: The RVN prices jumped by 43% in the last 24 hours. The bullish surge explodes the prices above the $0.030 mark. The 24-hour trading volume of Ravencoin is $71.55 Million, indicating a hike of 522%. Past Performance of RVN The RVN price shows a remarkable increase after testing the 50-day SMA at the $0.023 support level resulting in a bull run of 45% within the last 48 hours. The bull run exceeds the $0.030 level to reach the Fibonacci retracement level of 100% at $0.036. Additionally, the market value has increased by 66% in the last 16 days after a failed double top pattern. Source- Tradingview RVN Technical Analysis The RVN price chart shows the remarkable surge forming a bullish engulfing candle with the support of a spike in the intraday trading volume. Hence, the bugging pressure may shortly undermine the small wick formation in the daily candle to exceed the $0.040 horizontal level. As the market price exceeds the 100-day SMA, the bullish influence over the 50-day SMA increases, which teaches a potential bullish reversal. Furthermore, the 200-day SMA becomes the next bearish milestone at $0.048, for which the buyers will have to propel the market price by 36%. The RSI indicator displays a remarkable increase in underlying bullish sentiment as it exceeds th...
