Ravendex shoots up from $0.0036: RAVE traders need to HODL

Ravendex price analysis for March 14, 2022, confirms that the RAVE token has turned slightly bullish following a surge in bullish volume and as a result, has shot past the $0.0036 price level. Now as noted in our RAVE price analysis for March 11, 2022, the nearest resistance for the token is near $0.004 which the token has been failed for weeks. We have yet to break above this resistance. 

The data from CoinMarketCap shows that the trading volume for the RAVE token has dropped 7.61% in the last 24 hours, followed by a 1.92% rise in the diluted market cap. At the time of publishing, the price of 1 RAVE is $0.003823. Another fact is that the all-time low for Ravendex was noted on Jan 11, 2022, at $0.00121 while the all-time high was 0.02453 USD.

The daily candle for Ravendex opened at a price of $0.00389 and reached a daily high of $0.003900. Furthermore, the daily low for RAVE stands at a price of $0.00385. It can be said that the token is bearish being 84.30% low than its all-time high. 

Ravendex price analysis for March 14 on the 4-hour chart

Ravendex price analysis for March 14 2022 will be implemented using the best indicators on the 4-hour chart.

Source: TradingView

The MACD indicator shows that the MACD line and the signal line are very close to each other and the chances of a bullish breakout are not very high. 

The RSI indicator shows that the bulls are in control of a 4-hour time period while the gradient of the line is slightly negative for today which means lower prices might follow. 

The price action for Ravendex is situated in the upper end of the Bollinger Bands which means that bullish momentum prevails. 

Conclusion

Ravendex price analysis for March 14, 2022, can be concluded on a bearish note for the token as the RAVE token continues to fail $0.004 resistance even though the token has made multiple attempts at that price level.