Ravencoin is up by 9% on Monday: Right here is why

Ravencoin is up by 9% on Monday: Right here is why

Ravencoin is up by 9% within the closing 24 hours, making it the suitable performer amongst the head 100 cryptocurrencies by market cap.

RVN, the native token of the Ravencoin blockchain, is the suitable performer amongst the head 100 cryptocurrencies within the closing 24 hours. It has added 9% to its cost in the past this day, outperforming the broader market within the job. 

The cryptocurrency market is beginning the week in a certain vogue, with the market up by lower than 1% over the closing 24 hours. The final crypto market cap stays below $1 trillion, in spite of this day’s certain performance.

Bitcoin is nonetheless trading below $20okay after shedding more than 1% of its cost within the closing seven days. The leading cryptocurrency is nonetheless trading within the crimson zone this day. Ether has maintained its region above $1,500 and is up by lower than 1% on Monday.

Ravencoin’s certain performance comes after a frigid storage pockets became as soon as published for the RVN coin. The Ice Pockets Storage will rapidly begin and would perchance merely give a take to the RVN coin.

Frigid storage hardware pockets coming rapidly handiest to Ravencoin $RVN.

Designed for Ravencoin & Ravencoin Sources. i#

Right here is a enormous deal for Ravencoin.

It’s a freaking hardware pockets man! 💥@IceWalletCold https://t.co/jbwQHwShTc pic.twitter.com/etUz6N2kjf

— Leon Ravencoin 🅁🅅🄽 ₿ (@leon_texas) September 4, 2022

Key ranges to note

The RVN/USDT 4-hour chart is certain, as Ravencoin has been performing well all over the final 24 hours. The technical indicators prove that RVN is outperforming the broader cryptocurrency market.

The MACD line is inner the certain space, indicating bullish momentum for Ravencoin. The bullish momentum comes as the broader market is convalescing from its most up-to-date bearish crawl.

The 14-day relative power index of 61 presentations that RVN would perchance per chance enter the overbought space if the rally is also maintained.

At press time, RVN is trading at $0.03203 per coin. If the bullish momentum persists, RVN would perchance per chance surge past the $0.035722 resistance stage before the conclude of the day. On the opposite hand, it would perchance per chance need the give a take to of the broader crypto market to deprave the $0.040577 resistance stage within the quick period of time.

The bears would perchance win control of the market and push RVN below the $0.028675 give a take to stage. On the opposite hand, RVN must with ease defend its region above the $0.024799 give a take to stage within the finish to period of time.