Ravendex finds another minor support at $0.0039 as prices remain stable

Ravendex price analysis for April 1, 2022, ends on a bearish note for the RAVE token as chances of dropping below $0.0039 seem high.
Ravendex price analysis for April 1, 2022, ends on a bearish note for the RAVE token as chances of dropping below $0.0039 seem high.

Ravendex price analysis comes on a sluggish note for April 1, 2022, as the chances of RAVE losing $0.0039 have turned high. This is because the token was unable to retain prices above $0.004 and as a result, fell to the nearest minor support at $0.0039. Furthermore, it is also important to note that at the time of writing, the price change for RAVE in the last 24 hours stands at 3%. The RAVE price analysis for March 31 noted that RAVE ended the month of March on a bearish note. 

The daily candle for Ravendex opened at a price of $0.003914 and reached a daily high of $0.003919. Furthermore, the daily low for RAVE stands at a price of $0.0039016. At the time of publishing, the price of 1 RAVE is $0.003901.

The data from CoinMarketCap shows that the trading volume for the RAVE token has dropped 1.70% in the last 24 hours, followed by a 3.02% change in the diluted market cap. It is also important to note that the all-time low was seen on Jan 11, 2022, at $0.00121 while the all-time high was $0.02453.

Ravendex price analysis for April 1 on the daily candle

Ravendex price analysis for April 1 will take into account the valuable input from the daily chart below which will help us trace the future price action.

Ravendex price analysis
Source: TradingView

The RSI indicator shows that the RSI line is positioned in the bearish zone as the gradient of the line suggests that investors can expect the chances of a further drop in prices. 

The MACD indicator shows that we just witnessed a bearish divergence as the MACD line remains below the signal line and the histogram also turned red. 

The price action for Ravendex has dropped to the lower end of the Bollinger Bands which means that the bulls are been slain by the bears.

Conclusion

Ravendex price analysis for April 1, 2022, ends on a bearish note for the RAVE token as chances of dropping below $0.0039 seem high.

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