Ravendex might lose $0.003: Time to buy more?

Ravendex price analysis for April 22, 2022, ends on a bearish note for the token with high chances of losing the $0.003 price level.
Ravendex price analysis for April 22, 2022, ends on a bearish note for the token with high chances of losing the $0.003 price level.

Ravendex price analysis for April 22, 2022, comes on a bearish note for the token which wasn’t able to retain prices above $0.0034 and as a result, fell by more than 8% in the last 24 hours. It seems that the token might remain bearish in the coming days and if the bulls loose the $0.0030 price zone, we might see the downtrend for RAVE continue in the short term. As noted in our RAVE price analysis for April 21, 2022, the token has good support at the $0.0032 price region which it wasn’t able to hold and as a result, prices fell further low. 

The daily candle for Ravendex opened at a price of $0.00312 and reached a daily high of $0.00322. Furthermore, the daily low for RAVE stands at a price of $0.003121At the time of publishing, the price of 1 RAVE is $0.003145.

The data from CoinMarketCap shows that the trading volume for the RAVE token has dropped 0.84% in the last 24 hours, followed by an 8.25% 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.

Ravendex price analysis for April 22 on the daily candle

Ravendex price analysis for April 22 will consider the data from the daily chart below which includes three indicators integrated into it.

Ravendex price analysis
Source: TradingView

The RSI indicator rests below the 40 region which confirms that the bears are in charge of the price action. 

The price action is situated in the lower end of the Bollinger Bands confirming that a bearish breakout might follow for Ravendex. 

The MACD indicator shows that the MACD line and the signal line are touching each other and the chances of a bearish divergence are high. 

Conclusion

Ravendex price analysis for April 22, 2022, ends on a bearish note for the token with high chances of losing the $0.003 price level.

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