Ravendex jumps 6% as bulls are back: Expect a move towards $0.004

Ravendex price analysis for March 10, 2022, brings a bullish analysis for investors as the token rose by more than 6% in the last 24 hours and the token now attempts to breach the price level of $0.004. On the other hand, it is also important to note that the data from our Ravendex price analysis for March 9, 2022, confirmed that the token doesn’t have what it takes to reach $0.004. The future is very critical for RAVE as we predicted a wave of volatility for the token.

The data from CoinMarketCap shows that the trading volume of the token has surged 6.66% in the last 24 hours, followed by a 6% increase in the diluted market cap. It is also important to note that at the time of writing, the price of 1 RAVE is 0.00372 USD, which is 216.00% up from the all-time low witnessed on Jan 11, 2022, at 0.00121 USD.

The daily candle for Ravendex opened at a price of $0.00384, followed by a daily high of $0.00385. Furthermore, the daily low for the token stands at a price of $0.00372. On the whole, the token remains stuck in a downtrend.

Ravendex price analysis for March 10 on the 4-hour chart

Ravendex price analysis for March 10 2022 confirms that the token has been quite bullish in the last 24 hours but we will also use the readings from 3 indicators.

Source: TradingView

The MACD indicator shows that the MACD line remains above the signal line which means that the conditions remain bullish for the token. 

The RSI line for Ravendex is above the 50-price level but the gradient of the line is negative which means that lower prices are possible. 

The price action has failed to break out of the upper end of the Bollinger Bands as seen in the chart above.

Conclusion

Ravendex price analysis for March 10, 2022, confirms that the token remains sluggish as bulls are unable to breach critical $0.004 resistance.