Ravendex drops 8% following Valentine blues, time to HODL

Ravendex price analysis on Feb 14 confirms a bearish trajectory being followed by the token. However, investors can expect an optimistic price trajectory in the coming days. It is also important to note that the token had seen a bullish outburst since Jan 11, 2022, when RAVE witnessed its all-time low of 0.00121 USD. 

At the time of writing, the price of 1 RAVE is 0.005615 USD, which is 367.39% high than its all-time low. The data from CoinMarketCap shows that the token is 76.94% low from the all-time high of 0.02453 USD witnessed on Dec 25, 2021. 

Ravendex, the first non-custodial DEX on the Cardano blockchain, saw a 13.13% drop in the trading volume in the last 24 hours, followed by a drop of 9.69% in the dilute market cap. The 7-day high of the token stands at $0.005085, while the 7-day low is $0.006847. 

The daily candle for RAVE opened at a price of $0.005686 and reached a daily high of $0.005723. On the other hand, the daily low for RAVE is $0.00559.

Ravendex price analysis on the 4-hour chart

The Ravendex price analysis on the 4-hour chart can be concluded on a bearish note for today. It is also important to note that the prices currently rest in the lower end of the Bollinger Bands, which means that bears are in control.

Source: TradingView

The RSI line below shows that the Ravendex token has seen a dip in bullish volume. It seems that the current movement of the token is sluggish but, higher prices might follow soon.

Source: TradingView

The MACD line (blue) continues below the signal line (orange), which confirms that bears are in control.

Source: TradingView

Conclusion

Ravendex price analysis for Feb 14, 2022, can be concluded on a bearish note for the day. However, this might be a very good time to buy RAVE which recently got listed on the BitMart crypto exchange. On the other hand, the HODLers should fill their bags for chances of trend reversal are high.