$RVN - SURGES THEN COOLS — WHAT’S NEXT?
$RVN (Ravencoin) shocked the market with a sharp spike to $0.02782 on June 5, marking an explosive breakout. However, the price quickly retraced, and it's now stabilizing near $0.01530 — still up over 13% in the last 24 hours.
📊 Market Overview:
Current Price: $0.01530 (+13.08%)
24H High/Low: $0.01641 / $0.01325
Volume (24H): 1.70B RVN / 25.58M USDT
Trend Strength (4H Chart):
MA(5) and MA(10) show consolidation post-spike.
SAR resistance sits overhead at $0.02305
High trading volume confirms strong interest despite the correction.
🔍 Technical Insight:
The parabolic spike followed by quick sell-off shows a classic pump-and-dump pattern, but the current consolidation above $0.013 shows bulls are still active.
The price is forming higher lows since the dip, suggesting a potential accumulation phase.
Holding above $0.015 could spark another leg up, especially if trading volume returns.
🔧 Trade Outlook:
Support Zone: $0.01325 – $0.01400
Resistance Zone: $0.01680 – $0.01800
Key Breakout Level: $0.01720
A clean breakout above $0.0172 could retest $0.021 or higher, while rejection near $0.0164 may keep it in a sideways range.
---
Conclusion:
Ravencoin’s sudden move proves its ability to attract speculative momentum. If it maintains structure above $0.015, we could see another breakout attempt. Keep your eyes on volume and resistance flips for confirmation.