Ravendex rebounds successfully from $0.0038, back above $0.004

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Ravendex price analysis for March 30, 2022, comes on a slightly bearish note for the token as the chances of RAVE breaking above $0.0045 seem high. It is important to note that RAVE has been showing a promising price action and as per our RAVE price analysis for March 29, the token broke below the $0.004 price region for a brief period of time. However, this region retained as support and the token entered $0.0042 once again. 

The daily candle for Ravendex opened at a price of $0.00419 and reached a daily high of $0.00429. Furthermore, the daily low for RAVE stands at a price of $0.00409. At the time of publishing, the price of 1 RAVE is $0.00413.

The data from CoinMarketCap shows that the trading volume for the RAVE token has dropped 4.80% in the last 24 hours, followed by a 1.18% 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 30 on the daily candle

Ravendex price analysis for March 30 will take into account the reading from the indicators on the daily chart below.

Ravendex price analysis

Source: TradingView

The RSI indicator shows a value below 50 which means that the selling pressure is quite high and the chances of a bearish outburst seem quite high. 

The MACD indicator shows that the MACD line has broken below the signal line which confirms a bearish divergence for the token. Moreover, the MACD histogram is also bearish. 

The price action has broken to the bearish region of the Bollinger Bands which means that we might see the Ravendex token fall below $0.004 in the coming days if the situation doesn’t change.

Conclusion

Ravendex price analysis for March 30, 2022, ends on a bearish note for the token as chances of losing $0.004 price seem high. Investors should wait out before putting their money in the token.

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