Despite the significant progress made by Ravencoin during the past 30 days - RVN gained 28% against USD - the altcoin still remains on the negative side when it comes to yearly gains: - 24% in the USD market; - 34.4% against Bitcoin, and -67% in comparison to Ethereum’s performance.
Regardless of that, RVN has been displaying a positive dynamics of price development ever since the COVID-19 market crash, although it was only last week that the altcoin had restored the pre-crisis value of $0.025. Ravencoin is one of the few cryptocurrencies related to decentralized finance (DeFi) - its network provides for the seamless peer-to-peer transfer and creation of digital assets - that hasn’t experienced an exponential price growth since the so-called DeFi craze had kicked into gears and ensured astronomical gains for some other altcoins.
This fact can be interpreted in two ways: either RVN has inherently weak fundamentals and just can’t cut it as a fully-fledged DeFi currency, or it bears a lot of upside potential that could get realized in the form of a massive pump later on.
Judging from what we see on the weekly chart, RVN is indeed preparing itself for an explosive bull run. The bullish volume has been growing steadily during the past four weeks, which is a definite sign of the approaching breach of the resistance level at $0.028 that has been the level of strong price interaction for nearly a year.
1-week RVN/USDT chart
Besides, the key indicators on this time frame also reveal that Ravencoin might join the cohort of strong gainers any time soon.
Having taken that into account, we predict that Ravencoin will easily go past the aforementioned resistance levels and travel all the way to $0.035, to match the peak of the previous bull rally, or possibly above $0.04 in one large swing, where it would establish the first higher high of the secondary uptrend.
The situation on the daily time frame is equally bullish as RVN starts having another bullish impulse that might peak at $0.028.
1-day RVN/USDT chart
Therefore, RVN provides an opportunity to make a quick 8% long trade before the price makes a final retracement prior to encountering the resistance at $0.03.
|#||Crypto||Prediction||Accuracy||CVIX||Price||24h||7d||Market Cap||7d price change|
|1||BTC||Bitcoin predictions||65.6%||75||$29 971.34||-2.51%||-3.34%||$570 710 962 296|
|2||ETH||Ethereum predictions||64.4%||77||$2 037.32||-2.77%||-12.22%||$246 123 619 581|
|3||USDT||Tether predictions||92%||1||$0.998813||0.01%||-0.12%||$75 662 238 918|
|4||USDC||USD Coin predictions||91.2%||1||$1.000215||0%||0.02%||$52 058 478 750|
|5||BNB||Binance Coin predictions||67.6%||71||$300.71||-0.87%||-2.82%||$49 099 184 129|
|6||XRP||XRP predictions||65.6%||70||$0.429229||-2.87%||-14.84%||$20 750 274 438|
|7||ADA||Cardano predictions||65.2%||68||$0.563146||-3.78%||-12.00%||$18 999 983 515|
|8||SOL||Solana predictions||59.6%||80||$54.72||-2.90%||-15.35%||$18 451 594 485|
|9||BUSD||Binance USD predictions||92.8%||1||$1.001783||-0.02%||0.32%||$18 030 157 670|
|10||DOGE||Dogecoin predictions||64%||76||$0.089389||-1.42%||-16.39%||$11 859 333 710|
|11||DOT||Polkadot predictions||60.8%||77||$10.82||-4.42%||-2.27%||$10 689 096 556|
|12||AVAX||Avalanche predictions||64.8%||79||$33.60||-3.32%||-21.39%||$9 041 716 187|
|13||WBTC||Wrapped Bitcoin predictions||65.2%||75||$29 975.26||-2.44%||-3.38%||$8 513 091 805|
|14||TRX||TRON predictions||70.4%||61||$0.069582||-1.95%||-10.36%||$6 803 114 078|
|15||SHIB||SHIBA INU predictions||62%||78||$0.000012||-1.75%||-15.57%||$6 768 218 149|
Get cryptocurrency price predictions, forecasts with analysis and news right to your inbox.
© 2015-2022 Crypto-Rating.com
The usage of this website constitutes acceptance of the following legal information. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website, including information about the cryptocurrencies and bitcoin is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Crypto Rating shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about cryptocurrencies. The entire responsibility for the contents rests with the authors. Reprint of the materials is available only with the permission of the editorial staff.