Ravendex rebounds from $0.0035: Once again gets close to $0.004

Ravendex price analysis for March 11, 2022, comes riding on a slightly optimistic horse for the token which has seen a 1.65% surge in the last 24 hours. It is important to note that the RAVE token might continue to make a move towards $0.004 which is a very important price resistance that needs to be turned into support. The data from our RAVE price analysis for March 10 confirmed that RAVE hasn’t been able to break $0.004.

The data from CoinMarketCap shows that the trading volume for the RAVE token has dropped around 9.66% in the last 24 hours, followed by a 1.85% rise in the diluted market cap. It is also important to note that at the time of writing, the price of 1 RAVE is 0.0038 USD. The all-time low for Ravendex was noted on Jan 11, 2022, at 0.00121 USD while the all-time high was 0.02453 USD.

The daily candle for Ravendex opened at a price of $0.004018, followed by a daily high of $0.004019. Furthermore, the daily low for RAVE stands at a price of $0.003812. On the whole, RAVE is bearish.

Ravendex price analysis for March 11 on the daily chart

Ravendex price analysis for March 11 2022 will be using 3 of the most important indicators on the daily chart to figure out RAVE prices for the near future.

Source: TradingView

The RSI indicator shows a value around the 50-region while the gradient of the line is negative which means that lower prices are possible for today. 

The MACD line has broken above the signal line and remains above it which means that the conditions remain bullish for Ravendex. 

The price action is situated in the upper region of the Bollinger Bands but is retesting the middle zone which means that the bulls and the bears are in a constant struggle.

Conclusion

The Ravendex price analysis for March 11, 2022, confirms that the token will remain sluggish until the $0.004 price level isn’t breached.