Ravendex makes a move towards $0.0032: Where do we go next?

Ravendex price analysis for April 12, 2022, begins on a bearish note for the token as investors saw a retracement towards the $0.0032 price region. We can expect the price action to break below this region as well if selling pressure continues to increase in the short term. As noted in our RAVE price analysis for April 11, 2022, the token has found an increased resistance at the $0.0036 which was earlier a support region. Strong support for the token was also seen at $0.0004 which is now another major resistance.

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 jumped 18.90% in the last 24 hours, followed by a 2.2% 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 12 on the daily candle

Ravendex price analysis for April 12 will act as per the data from the daily chart below which includes 3 of the biggest indicators on the daily chart.

Source: TradingView

The MACD indicator shows that the MACD line and the signal line are very close to each other but the signal line remains above the MACD line.

The RSI indicator for Ravendex shows a value below 40 which means that the RAVE price action will continue making lower lows in the near future as well.  

The price action for RAVE has broken out of the lower end of the Bollinger Bands which means that the bears are currently in control of the price action.

Conclusion

Ravendex price analysis for April 12, 2022, ends on a bearish note for the token we can expect RAVE to lose $0.003.