Ravendex breaks all barriers with around 30% price surge in last 24 hours

Ravendex price analysis for March 17, 2022, comes on an extremely bullish note for the token as the RAVE token has broken all the barriers in its price trajectory to finally enter the $0.0050 price level. It is also important to note that the chances of RAVE continuing this bullish outburst seem to be quite high. Taking a look at our previous RAVE price analysis for March 16, 2022, the token received heavy blows that the $0.004 price resistance but this seems to be a thing of the past now. 

The data from CoinMarketCap shows that the trading volume for the RAVE token has jumped 47.13% in the last 24 hours, followed by a 17.52% rise in the diluted market cap. Investors should also keep in mind that the all-time low was seen on Jan 11, 2022, at $0.00121 while the all-time high was 0.02453 USD.

The daily candle for Ravendex opened at a price of $0.004109 and reached a daily high of $0.00512. Furthermore, the daily low for RAVE stands at a price of $0.0039. At the time of publishing, the price of 1 RAVE is $0.00504.

Ravendex price analysis for March 17 on the daily chart

Ravendex price analysis for March 17 2022 will make use of the following 3 indicators on the daily chart.

Source: TradingView

The MACD indicator shows that the MACD line and the signal line are moving apart from each other and the chances of the token being bullish are very high. 

The price action has broken out from the upper end of the Bollinger Bands confirming a bullish outburst for Ravendex.

The RSI indicator on the daily chart confirms that the gradient of the line is positive which means that the token is in demand as buying pressure is quite high. We might see higher prices in the near future. 

Conclusion

Ravendex price analysis for March 17, 2022, confirms that the token might continue on its bullish path in the near future if $0.005 turns into support.