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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Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.
Bài đăng liên quan
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.