Ravendex up 7% in 24 hours as investors fill their bags with RAVE

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Ravendex price analysis for Feb 16, 2022, can be concluded on a bullish note as the data from BitMart crypto exchange shows that the token rose 7% in the last 24 hours. On the other hand, the downtrend that the token was in seems to have shattered, which prevailed in our RAVE price analysis for Feb 14, 2022. It can be expected that soon, RAVE might enter another bullish phase. 

The data from CoinMarketCap shows that the trading volume of the token rose 11.33% in the last 24 hours, followed by a rise in bullish sentiment. Moreover, it is also to be noted that the token is currently 77.26% low from its all-time high, followed by 361.02% up from its all-time high. 

The daily candle for Ravendex opened at $0.00558, reaching a daily high of $0.005764. Meanwhile, the daily low for the token stands at a price of $0.005429. Moreover, the price of 1 RAVE at the time of writing is $0.005533.

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Ravendex price analysis on the 4 hour chart

The 4-hour chart is the most preferred chart for traders. In the 4-hour chart below, it can be seen that the price action is now retesting the middle zone of the Bollinger Bands, which concludes that higher prices are possible.

Source: TradingView

The MACD indicator shows that the MACD line (blue) is very close to breaking above the signal line (orange), which means that a bullish surge in prices is definitely possible.

Source: TradingView

The RSI indicator has surged above the 50 mark, confirming the token’s entrance in the bullish zone. This means that bulls are in charge, and this might be a good time to buy RAVE.

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Source: TradingView

Conclusion

Ravendex price analysis for Feb 15 can be concluded on a bullish note following a huge price surge in the past 24 hours. TheCoinRise has reviewed the first non-custodial DEX on the Cardano blockchain and concluded that the project is very promising and a good investment.

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