Ravendex once again makes a move towards $0.005 as bulls reappear

Ravendex price analysis for March 22, 2022, comes on a bullish note for the cryptocurrency platform which has once again made a move towards $0.005 price resistance. The nearest support for the token stands at $0.004 which was earlier a strong resistance. Gradually, the RAVE token is forming an uptrend. As noted in our Ravendex price analysis for March 21, the $0.0045 is also another minor support that investors should watch out for.

The daily candle for Ravendex opened at a price of $0.004723 and reached a daily high of $.004733. Furthermore, the daily low for RAVE stands at a price of $0.004716. At the time of publishing, the price of 1 RAVE is $0.004730.

The data from CoinMarketCap shows that the trading volume for the RAVE token has jumped 327.19% in the last 24 hours, followed by a 2% surge in the diluted market cap. Investors should also keep in mind that the all-time low was seen on Jan 11, 2022, at $0.00121 while the all-time high was 0.02453 USD.

Ravendex price analysis for March 22 on the daily candle

Ravendex price analysis for March 22 comes on a bullish note for investors as RAVE continues its movement towards $0.005.

Source: TradingViewThe MACD indicator shows that the MACD line is above the signal line and chances of bulls remaining in control are quite high. The two lines are getting apart as well.

The RSI indicator reads a value near the 60 price level which means that the bulls are in control and the demand for Ravendex is increasing. Furthermore, the chances of breaking $0.005 are quite high as the gradient of the line remains positive. 

The price action is about to break out of the upper end of the Bollinger Bands. If the price surges above $0.005, we might see this breakout. 

Conclusion

Ravendex price analysis for March 22, 2022, confirms that the RAVE token might end up breaking $0.005 soon in the near future as buying pressure continues to surge.