Ravendex sets eyes towards $0.004 resistance: Buyers should get ready

Ravendex price analysis for March 1st begins on a bullish note for the token, which has seen a volatile February. Moreover, it is also important to note that our RAVE price analysis for February 28th put a heavy resistance at $0.004 for the RAVE. It would be interesting to see if the bulls are actually able to breach the strong resistance at $0.004. 

The data from CoinMarketCap shows that the trading volume of the token has surged more than 3% in the last 24 hours, followed by a 3.93% surge in the Fully Diluted Market Cap. Another important fact is that the Ravendex token is currently 222.61% up from the all-time low witnessed on January 11th, 2022, and is 84% low from the all-time high witnessed on December 25th, 2021. 

The daily candle for the Ravendex token opened at a price of $0.00385 and reached a daily high of $0.003928. Moreover, the daily low for the token stands at $0.00378, and the price of 1 RAVE at the time of writing stands at $0.003877, with strong resistance at $0.004. 

Ravendex price analysis for March 1st on the 4-hour chart

Ravendex price analysis for March 1st on the 4-hour chart will use 3 major indicators in the crypto space that are very important in predicting the future price action.

Source: TradingView

The RSI line aims to hit the 50 mark, which would complete the transition to a bullish phase for the token. If the token successfully breaks above this point, you can make a decent profit. 

The MACD indicator shows that the MACD line continues above the signal line, which means that the bulls are in charge for the short term for Ravendex. 

The price action has broken above the middle zone of the Bollinger Bands, as seen in the 4-hour chart above. It can be expected that RAVE breaks $0.004.

Conclusion

Ravendex price analysis for March 1st, 2022, can be confirmed on a bullish note, but the chances that RAVE breaks above $0.004 are low.