- July 29, 2022
- Posted by: Tradingshot Articles
- Category: Cryptocurrency
Ravencoin (RVNUSD) has seen a very strong and rapid growth in the past 3 days after rebounding on the 1D MA50 (blue trend-line) and is now very close to the 1D MA200 (orange trend-line). The last rise of such magnitude has been from July 30 to August 11 2021.
RVN is doing so after a clear MACD Bullish Cross on the 1W time-frame with the bottom formation of June 15 being an Inverse Head & Shoulders (IH&S) pattern. That has a technical target of the 2.0 Fibonacci extension. Since we are that close to the 1D MA200, it would be less risky to buy only if it breaks or upon a pull-back to the 1D MA50.