Ravendex flies past resistance zones: RAVE jumps 20%

Ravendex price analysis for Feb 23, 2022, confirms that the token has turned bullish following a huge surge in buying pressure and there is a chance that the token might enter the $0.005 price level in the near future. It seems that the RAVE token has made up for the loss it saw in our Ravendex price analysis for Feb 22.

The data from CoinMarketCap shows that the trading volume of the token has surged 53.82% in the last 24 hours followed by a 20.86% rise in the diluted market cap. Moreover, the token is currently 81.47% low from its all-time high witnessed on Dec 25, 2021 while it is 275.68% high from its all-time low. 

The daily candle for Ravendex opened at a price of $0.00438 and reached a daily high of $0.0049. Furthermore, the daily low for the token stands at a price of $0.0038 while the price of 1 RAVE at the time of writing is $0.004835. 

Ravendex price analysis on the 4-hour chart for Feb 23

Ravendex price analysis for Feb 23, 2022, confirms that the token has turned bullish, as seen from the readings of the 3 major indicators below.

Source: TradingView

The MACD indicator on the 4-hour chart shows that the MACD line (blue) has dropped below the signal line (orange) which means that a bullish divergence has taken place. The MACD histogram is also bullish.

The RSI indicator shows that the line has entered the bullish zone and reads above 50. The gradient of the line is positive which means that higher prices are possible.

The price action has surged above the middle zone of the Bollinger Bands and is now under the influence of the bulls. The token might aim to break out of the upper end of the Bands in the near future.

Conclusion

The Ravendex price analysis for Feb 23, 2022, confirms that the token has turned bullish and it seems that the token might break above $0.005 in the near future.