Ravendex once again turns $0.004 into support as volume slightly jumps

Ravendex price analysis for April 4 ends on a slightly bearish note for the token as the chances of losing the $0.004 price level seem very high.
Ravendex price analysis for April 4 ends on a slightly bearish note for the token as the chances of losing the $0.004 price level seem very high.

Ravendex price analysis for April 4, 2022, comes on a sluggish note for today as the token hasn’t made a big move since losing the $0.005 price zone. On the other hand, it is also important to note that losing the $0.004 price zone might provide very costly to the investors. As noted in our RAVE price analysis for April 1, 2022, the token lost the $0.004 price region and went as low as $0.0038 which was again a region of minor support.

The daily candle for Ravendex opened at a price of $0.004026 and reached a daily high of $0.004103. Furthermore, the daily low for RAVE stands at a price of $0.003811. At the time of publishing, the price of 1 RAVE is $0.004098.

The data from CoinMarketCap shows that the trading volume for the RAVE token has surged 17.06% in the last 24 hours, followed by a 0.56% drop in the diluted market cap. It is also important to note that the all-time low was seen on Jan 11, 2022, at $0.00121 while the all-time high was $0.02453.

Ravendex price analysis for April 4 on the daily candle

Ravendex price analysis for April 4 will consider the data from the following indicators on the daily chart which can be in the image below.

Ravendex price analysis
Source: TradingView

The MACD indicator is bearish with the MACD line being below the signal line but the two are very close to each other showing that there is a constant struggle between the bulls and the bears. 

The RSI indicator reads a value below the 50 region which means that the bears are gaining control of the price action while the gradient of the line suggests that higher prices can be seen.

The price action for Ravendex lies in the lower end of the Bollinger Bands indicating that the selling pressure is quite high. 

Conclusion

Ravendex price analysis for April 4 ends on a slightly bearish note for the token as the chances of losing the $0.004 price level seem very high.

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