Ravendex gears up to push past $0.0033 price level

Ravendex price analysis for April 20, 2022, begins on a bearish note for the token which has seen a negligible price surge in the last 24 hours. Furthermore, as per our RAVE price analysis for April 19, 2022, the major resistance of the token was present at stand at the $0.0033-$0.0034 price zone. Moreover, bears have been controlling the market movement of the RAVE token and investors can expect another price drop if the conditions remain the same

The daily candle for Ravendex opened at a price of $0.003368 and reached a daily high of $0.003387. Furthermore, the daily low for RAVE stands at a price of $0.003286. At the time of publishing, the price of 1 RAVE is $0.003289.

The data from CoinMarketCap shows that the trading volume for the RAVE token has dropped 3.88% in the last 24 hours, followed by a 0.66% surge in the diluted market cap. It is also important to note that the all-time low was seen on January 11, 2022, at $0.00121, while the all-time high was $0.02453.

Ravendex price analysis for April 20 on the daily candle

Ravendex price analysis for April 20 will consider the data from the daily chart below which includes 3 indicators that are very important in the TA space.

Source: TradingView

The MACD indicator shows that the MACD line is touching the signal line which confirms that chances of a bearish or bullish divergence seem quite prominent for the short term.

The RSI indicator rests at the 40 level which confirms that bears are in control while the gradient of the line confirms that the bearish trend for the Ravendex token will continue in the near future.

The price action is situated in the lower end of the Bollinger Bands and a bearish breakout might push prices out of the $0.003 price level.

Conclusion

Ravendex price analysis for April 20, 2022, ends on a bearish note for the token with low chances of breaking above $0.0033.