• Wed. Aug 17th, 2022


Computers Tech Games Crypto Music and More

Ravencoin price bullish trend gains steam. Is RVN a good buy? – CoinJournal

Choose your language:
The Ravencoin price went parabolic on Friday as investors cheer the soaring cryptocurrency prices. The RVN token rose to a high of $0.042, which was about 152% above the lowest level this year. Its total market cap has risen to over $469 million, making it the 100th biggest cryptocurrency in the world. 
Ravencoin is a top 100 cryptocurrency that has a unique angle. It is a Bitcoin crone that seeks to solve some of its biggest challenges. It was created using the original BTC code. 
Ravencoin handles the challenges that Bitcoin has experienced in the past decade. For example, it is a highly faster cryptocurrency than BTC since it has a block reward time of 1 minute. Bitcoin has a block time of over 10 minutes. 
Further, while Bitcoin has a maximum supply limit of 21 million, Ravencoin has over 11 billion, making it more affordable than BTC. The cost of Ravencoin transactions is significantly lower than that of Bitcoin. 
Ravencoin price is rising simply because other cryptocurrency prices are rising as well. For example, BTC has risen to $23,970 and there is a possibility it will rise to over $25,000 in the next few days. The total market cap of all cryptocurrencies has jumped to over $1.14 trillion. 
This performance is mostly because analysts believe that the Federal Reserve will slow interest rate hikes in the coming months because the country has moved to a recession. Data published on Thursday revealed that the country’s economy contracted by 0.9% in the second quarter after falling by 1.6% in Q1. 
Further, the RVN price is rising as investors price in a situation that cryptocurrency prices have bottomed. 
The four-hour chart shows that the RVN price has continued rising in the past few days. It has jumped to the highest level since May this year. At the same time, Ravencoin has jumped above the 25-day and 50-day moving averages while the Relative Strength Index has moved above the overbought level. 
Therefore, the coin will likely continue rising as bulls target the next key resistance level at $0.050. A drop below the support level at $0.035 will invalidate the bullish view. 
Keep updated with our round the clock and in-depth cryptocurrency news.
Unsub anytime
No SPAM ever!
After signing up, you may also receive occasional special offers from us via email. We will never sell or distribute your data to any third parties. View our privacy policy here.
Please be aware that some of the links on this site will direct you to the websites of third parties, some of whom are marketing affiliates and/or business partners of this site and/or its owners, operators and affiliates. We may receive financial compensation from these third parties. Notwithstanding any such relationship, no responsibility is accepted for the conduct of any third party nor the content or functionality of their websites or applications. A hyperlink to or positive reference to or review of a broker or exchange should not be understood to be an endorsement of that broker or exchange’s products or services.
Risk Warning: Investing in digital currencies, stocks, shares and other securities, commodities, currencies and other derivative investment products (e.g. contracts for difference (“CFDs”) is speculative and carries a high level of risk. Each investment is unique and involves unique risks.
CFDs and other derivatives are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how an investment works and whether you can afford to take the high risk of losing your money.
Cryptocurrencies can fluctuate widely in prices and are, therefore, not appropriate for all investors. Trading cryptocurrencies is not supervised by any EU regulatory framework. Past performance does not guarantee future results. Any trading history presented is less than 5 years old unless otherwise stated and may not suffice as a basis for investment decisions. Your capital is at risk.
When trading in stocks your capital is at risk.
Past performance is not an indication of future results. Trading history presented is less than 5 years old unless otherwise stated and may not suffice as a basis for investment decisions. Prices may go down as well as up, prices can fluctuate widely, you may be exposed to currency exchange rate fluctuations and you may lose all of or more than the amount you invest. Investing is not suitable for everyone; ensure that you have fully understood the risks and legalities involved. If you are unsure, seek independent financial, legal, tax and/or accounting advice. This website does not provide investment, financial, legal, tax or accounting advice. Some links are affiliate links. For more information please read our full risk warning and disclaimer.


Leave a Reply

Your email address will not be published.