Do $RVN lost its momentum? Or its only a profit-taking?
I see the #RVNUSDT rally peaking at $0.01785 has turned into a correction with lower highs, now dipping below the short EMAs (21/35/50), which screams bearish momentum to me—totally matches the chart’s latest candle action.
I’ve got my eye on that key support zone at $0.0165–0.0160, with the demand zone at $0.01654 and 200 EMA at $0.01607 holding firm, and the squeezing Bollinger Bands hint at low volatility, maybe a consolidation brewing.
The MACD’s red histogram and lines crossing below the signal-line line-up with my take on fading momentum, while the dropping volume during this dip suggests profit-taking, not panic—spot on with the chart’s volume bars.
My take: I’m watching for a bullish rebound if the $0.0165–0.0160 zone holds with a pinbar or engulfing candle, pushing back to $0.0172–0.0178, but if it breaks below $0.01607, I’d expect a slide to $0.01580. For now, it’s testing, not breaking— I’ll wait for a solid hold at support with a volume kick before making my move!
