Ravendex aims to break above $0.0036 but fails to do so

Ravendex price analysis for April 11, 2022, comes on a bearish note for the token as chances of losing the $0.0035 price support seem high. The bulls have been continuously trying to test the $0.0036 resistance but have failed to break above this price zone on a number of occasions. As noted in our RAVE price analysis for April 8, 2022, the RAVE token has been fighting off the bears but still hasn’t been able to reclaim the important price level of $0.004. 

The daily candle for Ravendex opened at a price of $0.00361 and reached a daily high of $0.00374. Furthermore, the daily low for RAVE stands at a price of $0.0035. At the time of publishing, the price of 1 RAVE is $0.003529.

The data from CoinMarketCap shows that the trading volume for the RAVE token has jumped 18.90% in the last 24 hours, followed by a 2.2% surge in the diluted market cap. It is also important to note that the all-time low was seen on January 11, 2022, at $0.00121, while the all-time high was $0.02453.

Ravendex price analysis for April 11 on the daily candle

Ravendex price analysis for April 11 will consider the data from the chart below which includes 3 major indicators on the daily chart.

Source: TradingView

The MACD indicator shows that the MACD line and the signal line are close but the former is below the latter which means that the bears are in control of the price action.

The RSI indicator reads a value of below 40 which means that the bears are in charge of the price action and chances of retaining the $0.0035 price zone seem low for now as the gradient of the line suggests.

The price action is situated in the lower end of the Bollinger Bands which means that the bears are overall in control of the price action. 

Conclusion

The Ravendex price analysis for April 11, 2022, ends on a bearish note for the token as the chances of losing the $0.0035 price level seem considerable.