RVN price chart shows an inverted head and shoulder possibility, which may push the Ravencoin market value above the $0.1 mark. The bullish reversal rally exceeded the psychological mark of $0.050 and approached the overhead supply zone at $0.075. However, the selling pressure growing at the supply zone teases a bearish turnaround. Nonetheless, the growing underlying bullishness teases an inverted head and shoulder possibility if the reverting prices take support at the $0.050 mark. Key Points: The Ravencoin price action shows an increased selling spree at $0.075. The bullish crossover of the 50 and 100-day EMA reflects solid underlying bullishness. The intraday trading volume in Ravencoin is $475 million. Source – TradingView RVN Technical Analysis As mentioned in our previous article, the RVN prices reclaim the psychological mark of $0.050 and continue challenging the overhead resistance of the $0.075 supply zone. However, the increased selling pressure at the supply zone results in a higher price rejection in the bullish candle and influences bearishness on the daily candle. The daily candle shows a reduction of 9.15% in market value with 17 hours left on the clock. Hence after the phenomenal uptrend of 140% within a week, the increased selling pressure teaser returns of the $0.050 breakout. However, the bull run results in a bullish crossover of the 50 and 100 EMA, which increases the possibility of a golden crossover. Non...
