Ravendex price analysis comes with a sluggish analysis for the token as it was unable to push through the important resistance of $0.0056. It seems that the market has remained bearish for Valentine’s Day, as seen in our Ravendex price analysis for Feb 14, 2022. However, looking at the 4-hour price charts, it seems that the market is still progressing sideways.
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The data from CoinMarketCap shows that the trading volume of the token dropped 13.98% in the last 24 hours, followed by a 3.21% price drop in the same period. Moreover, the market rank of the token stands at 3546. Also, RAVE is 77.66% low from its all-time high of $0.02453 witnessed on Dec 25, 2021. On the other hand, the token surged 352.79% from the all-time low of $0.00121, witnessed on Jan 11, 2022.
The daily candle for Ravendex opened at $0.00559 and reached a daily high of $0.00565. Moreover, the daily low for the token stands at $0.005299. At the time of writing, the price of 1 RAVE is $0.0054.
Ravendex price analysis on the 4 hour chart
Ravendex price analysis on the 4 hours chart shows that the price action is situated in the lower end of the Bollinger Bands, a bearish scenario. The selling pressure is higher than the buying pressure.
The MACD indicator shows that the MACD line (blue) remains below the signal line (orange), another bearish scenario. The MACD histogram is also bearish.
The RSI indicator has dipped below the 50 mark, and the gradient is slightly negative, confirming that lower prices are possible for RAVE.
Conclusion
Looking at the all-time high of the token, there is a significant profit to be made for investors if they invest in Ravendex. Moreover, the current dip might present investors with amazing buying opportunities. The testnet launch and staking platform release was reported by TheCoinRise in a previous report, which might also drive prices higher in the coming days.
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