Summary
Fantastic action from Ravencoin!
Ravencoin (RVN) just delivered the kind of move that often marks true capitulation — a sharp flush that cleared leveraged positions, followed by an equally impressive recovery.
Analysis
Capitulation confirmed: The vertical drop washed out weak hands and excessive leverage. Volume spikes and long lower wicks are classic signs of exhaustion.
Structure intact: Despite the volatility, RVN remains within its broader wedge formation. Support held, and the price rebounded fast — a strong technical sign.
Momentum reset: RSI and Stoch RSI have reset from overheated levels, giving room for a sustainable upside push.
This kind of “wash and recover” pattern often appears right before trend reversals, when leveraged traders are forced out and real accumulation begins.
Outlook
If follow-through continues and the price closes back above the midline of the channel, the next move could target the upper wedge resistance — potentially the start of a new leg upward.
The market just flushed the leverage; now it may be time for the real move.
Fantastic action from Ravencoin!
Ravencoin (RVN) just delivered the kind of move that often marks true capitulation — a sharp flush that cleared leveraged positions, followed by an equally impressive recovery.
Analysis
Capitulation confirmed: The vertical drop washed out weak hands and excessive leverage. Volume spikes and long lower wicks are classic signs of exhaustion.
Structure intact: Despite the volatility, RVN remains within its broader wedge formation. Support held, and the price rebounded fast — a strong technical sign.
Momentum reset: RSI and Stoch RSI have reset from overheated levels, giving room for a sustainable upside push.
This kind of “wash and recover” pattern often appears right before trend reversals, when leveraged traders are forced out and real accumulation begins.
Outlook
If follow-through continues and the price closes back above the midline of the channel, the next move could target the upper wedge resistance — potentially the start of a new leg upward.
The market just flushed the leverage; now it may be time for the real move.
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Exención de responsabilidad
La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.
Publicaciones relacionadas
Exención de responsabilidad
La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.