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.
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.