Ravencoin Price Analysis – 25th February 2021

The Ravencoin (RVN) market cap currently stands at US$1.53 billion with US$380 million in trade volume over the past 24 hours. RVN is ranked 54th on the Brave New Coin market cap table. The RVN price is up 144% in the last 7 days.

About Ravencoin

Ravencoin is a blockchain network optimized to move assets from one holder to another, such as tokens. Ravencoin is a fork of the Bitcoin code. It cites its main improvements over Bitcoin as a one-minute block reward time, a change in the number of coins released, but not the weighted distribution schedule, and the inclusion of capabilities for asset development and messaging. Ravencoin is open source.

There is no allocation of RVN tokens for private, public, founders, or developers. Ravencoin is designed to offer security, user control, privacy, and resistance to censorship. Ravencoin is ASIC resistant. Its KAWPOW algorithm was derived from ethhash and ProgPOW and aims to solve the problem of mining centralization by using standard consumer-grade GPUs for mining.

Technical Analysis

Roadmaps for future market movements can be found on high timeframes using Exponential Moving Averages, Volume Profile Visible Range, Pivot Points, Ichimoku Cloud, and divergences. Further background information on the technical analysis discussed below can be found here.

Watch full RVN Technical Analysis on YouTube

• On the daily chart for RVN/USD, the 50-day and 200-day Exponential Moving Average (EMA) bullishly crossed on January 31st. The Volume Profile of the Visible Range shows support at US$0.05 and US$0.02. Yearly pivots also show support at US$0.10 and US$0.08. Additionally, there are no bullish or bearish divergences on volume or RSI at this time.

• Turning to the Ichimoku Cloud, four metrics are used to determine if a trend exists; the current price in relation to the Cloud, the color of the Cloud (red for bearish, green for bullish), the Tenkan (T) and Kijun (K) cross, and the Lagging Span. The best entry always occurs when most of the signals flip from bearish to bullish, or vice versa.

• On the daily chart with doubled settings (20/60/120/30), for more accurate signals, are bullish; the spot price is above the Cloud, the Cloud is bullish, the TK cross is bullish, and the Lagging Span is above the Cloud and above the current spot price. The trend will remain bullish so long as the spot price remains below the Cloud, currently at US$0.03. On the hourly chart, Cloud metrics are bearish but will provide a long entry signal when Cloud metrics flip bullish once again.

• On the daily RVN/BTC chart, trend metrics are also bullish. Price broke above the 200-day EMA and daily Cloud on February 7th, preceding the current bullish rally. Support sits at 300 and 200 sats based on VPVR and yearly pivots. Price will likely consolidate from 300 to 400 sats for several days based on a previous consolidation period in 2019. Upside yearly pivot resistance sits at 523 sats with VPVR resistance at 700 sats.