Ravendex holding strong at $0.0032: Bears remain in control

Cryptocurrency Price analysis and Prediction

April 13, 2022

Cryptocurrency Price analysis and Prediction

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Ravendex price analysis for April 13, 2022, comes on a bearish note for the token with slightly positive news that the token is holding support at $0.0032 which is a crucial area for now. We have witnessed a huge decline in prices as the token wasn’t able to hold prices above $0.005 and as a result, it fell back below $0.004 price support. As noted in our RAVE price analysis for April 12, 2022, the retracement towards $0.0032 came after the token lost all the support levels between $0.0032 and $0.004.

The daily candle for Ravendex opened at a price of $0.00361 and reached a daily high of $0.00374. Furthermore, the daily low for RAVE stands at a price of $0.0035. At the time of publishing, the price of 1 RAVE is $0.003529.

The data from CoinMarketCap shows that the trading volume for the RAVE token has dropped 10.54% in the last 24 hours, followed by a 0.12% 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.

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Ravendex price analysis for April 13 on the daily candle

Ravendex price analysis for April 13 will consider the data from the chart below which consists of 3 major indicators on the daily chart.

Source: TradingView

The MACD indicator shows that the MACD line and the signal line are quite far apart as the signal line dominates indicating bearish control.

The RSI indicator reads a value below 40 and is about to enter the oversold region and the gradient of the line suggests that sluggish price action for Ravendex will continue.