Ravencoin (RVN) Price Prediction 2019 – Time To Get Back To 1k+ Satoshis Levels (Mid May Update)

Mid May Update: Technicals

RVNBTC chart on the shorter timeframes like 4H is exploding. RVN found the bottom at 562 sats after rebounding off of it on 4-5 candles before launching to touch the 382 Fib. A small pullback, no bigger than the 50% of the current candle would imply a further bull run to the Fib50 which is currently at 1000 satoshis. Below is a possible scenario:

Volume and volatility are picking up and moving 1H periods show a clear trend with shorter moving averages pointing north and crossing the longer ones. EMA20 just crosses EMA50 and will meet the EMA200 around the support level of 700 satoshis. A cross there would be further confirmation of the above setup.

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One thing to bear in mind is the turbulent and erratic nature of bitcoin – a sudden thrust up or slide down is always on the cards which would invalidate this and all other analysis and predictions. In such cases, market is shaken up with most traders exiting altcoins and entering bitcoin positions, especially in the initial phases of bitcoin pumps. So it is always good idea to keep a close eye on bitcoin’s behaviour before opening a long or a short on any other coin in the market.

Should this happen, stop by again to check out our updated charts and thoughts.

Trading volume is okayish – reported volume in the last 24hrs is $10m and “Real 10” (trading volume on the exchanges that provably prevent wash trading) volume is of course lower but not by much and it amounts to $5m. This means that RVN’s liquidity is only slightly inflated and its trading volume is overstated by 2x which is comparatively great ratio.

Moreover, RVN has an averagely strong buy support, according to coinmarketbook.cc. Buy support is measuring sum of buy orders at 10% distance from the…

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