Ravendex holds strong support at $0.0032: Bears take over

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Ravendex price analysis for April 15, 2022, comes on a bearish note for the token as chances of losing $0.0032 region as price support are gradually turning high. It is important to note that the nearest resistance for the token stands at a price of $0.0035 which the token broke in our RAVE price analysis for April 14, 2022. On the other hand, the token has tried to make higher highs in recent days but failed to do so on numerous occasions. 

The daily candle for Ravendex opened at a price of $0.003304 and reached a daily high of $0.00331. Furthermore, the daily low for RAVE stands at a price of $0.00327. At the time of publishing, the price of 1 RAVE is $0.003277.

The data from CoinMarketCap shows that the trading volume for the RAVE token has dropped 3.98% in the last 24 hours, followed by a 3.98% drop 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 15 on the daily candle

Ravendex price analysis for April 15 will talk about the chances of the RAVE breaking out into the $0.004 price region in the coming days.

Source: TradingView

The RSI indicator shows a reading below the 40 region which confirms that bears are currently in control of the price action. The gradient of the line suggests that lower prices are surely possible.

The MACD indicator shows that the MACD line and the signal line are moving parallel to each other with conditions remaining bearish as the signal line dominates. 

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The price action for Ravendex is currently situated in the lower end of the Bollinger Bands which means that a bearish breakout might follow in the near future. 

Conclusion

The Ravendex price analysis for April 15, 2022, ends on a bearish note for the token as chances of breaking the $0.004 price region remain low. 

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