Ravendex drops below $0.005, retesting the $0.0048 price level

Ravendex price analysis comes on a bearish note for today as prices cool down a bit after days of the bullish movement. It is important to note that as per our RAVE price analysis for March 24, 2022, the RAVE token was able to break above the $0.005 price level but failed to consolidate and as a result, we can see that the token went to the nearest support of $0.0048 which held. In the last 24 hours, we can see that the token has dropped nearly 7%, causing a huge panic among investors.

The daily candle for Ravendex opened at a price of $0.00495 and reached a daily high of $0.00497. Furthermore, the daily low for RAVE stands at a price of $0.004949. At the time of publishing, the price of 1 RAVE is $0.004958.

The data from CoinMarketCap shows that the trading volume for the RAVE token has jumped 2.88% in the last 24 hours, followed by a 2.36% 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.

Ravendex price analysis for March 25 on the daily candle

Ravendex price analysis for March 25, 2022, will consider the data from the following indicators that will be integrated into the RAVE daily chart:

Source: TradingView

The MACD histogram shows that the MACD line is above the signal line which means that prices will remain bullish in the near future.

The RSI indicator shows a reading above 60 which means that chances of regaining $0.005 once more are high. Furthermore, the gradient of the line suggests that bulls are in charge.

The price action for Ravendex aims to break out of the upper end of the Bollinger Bands which confirms that a bullish breakout might follow.

Conclusion

The Ravendex price analysis for March 25, 2022, confirms that chances of RAVE retesting $0.005 resistance are high as indicators remain bullish for the token.