The cryptocurrencies are declining after the rejection from the previous highs. ETC, CRV, and EOS have declined below the moving average lines which makes them prone to further decline. On the other hand, RVN and CEL are trading between the moving average lines after their rejection from the overhead resistance levels. These coins appear to reach a balance between demand and supply.
Ravencoin (RVN) price is in a downward correction as it is confined between the moving average lines. The cryptocurrency has been trading between the moving average lines since September 5. RVN will trend when the moving average lines are breached.
The altcoin may resume selling pressure as it faces rejection at the $0.09 resistance zone. Meanwhile, on a weekly chart; a retraced candle body tested the 78.6% Fibonacci retracement level on March 21. The retracement suggests that RVN will fall to level 1.272 … Read more