Ravendex shoots up by 15%: RAVE aims to turn $0.004 into support

Ravendex price analysis for March 3, 2022, confirms that the RAVE token has turned bullish in the last 24 hours due to a surge in bullish pressure. As noted in our RAVE price analysis for March 2, the token had seen a strong resistance at $0.004, but now, it has broken above this strong resistance, and the next resistance for the token stands at $0.0045.

The data from CoinMarketCap shows that the trading volume of the token has shot up by more than 49% in the last 24 hours, followed by a 15.87% rise in the Fully Diluted Market Cap. Moreover, it is also important to note that the Ravendex token is currently 259.07% up from the all-time low witnessed on January 11, 2022, and is more than 82.29% low from the all-time high witnessed on December 25, 2021. 

The daily candle for the Ravendex token opened at a price of $0.0039 and reached a daily high of $0.0045. Moreover, the daily low for the token stands at $0.0039, and the price of 1 RAVE at the time of writing stands at $0.0041. 

Ravendex price analysis for March 3 on the 4-hour chart

Ravendex price analysis for March 3 on the 4-hour chart will use some of the major indicators that have been used by experts to predict the future price movement of assets.

Source: TradingView

The MACD line remains above the signal line, a bullish situation that shows that higher prices are indeed possible. 

The RSI line has shot up to the bullish zone, and the gradient of the line is positive for today, which means that higher prices are possible in the next 4 hours. 

The price action has broken above the middle zone of the Bollinger Bands, which means that in the near future, the token will remain bullish.

Conclusion

Ravendex price analysis for March 3, 2022, confirms that the token has turned bullish and faces resistance at $0.0045. Investors can expect a move towards the same.