What do the Short-Term Technicals Predict for Ravencoin Classic (RVC) Thursday?

Thursday, May 12, 2022 07:59 AM | InvestorsObserver Analysts

InvestorsObserver gives Ravencoin Classic a weak short-term technical score of 4 from its analysis. The proprietary scoring system considers the coin's trading history over the past month to determine the strength of its short-term technicals. RVC has currently traded better than 4% of coins based on these metrics. Investors focused on healthy recent trading patterns should find the short-term technical ranking system more relevant when making investment decisions.

InvestorsObserver is giving Ravencoin Classic a 4 Short-Term Technical Rank. Find out what this means to you and get the rest of the rankings on Ravencoin Classic!

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Trading Analysis

Ravencoin Classic is $0.000000 (0.81%) above its 30-day low of $0.000014962 while -$0.000082 (-84.42%) below its 30-day high of $0.00009679. In addition, RVC's current price of $0.000015084 is under its 30-day moving average price of $0.000061868, leading to a weak short-term technical score. Overall the recent trading history of Ravencoin Classic suggest that investors are bearish on the coin at the moment. RVC has a low market cap compared to the majority of coins with a total market value of $158,399.10. Ravencoin Classic's relatively low market value comes as it sits under $100 million while the top 100 cryptos remain above $1 billion in market cap and the top 500 sit above $100 million. Ravencoin Classic's average volume is low as $110,083.33 worth of the coin is typically traded over a 24 hour period. RVC's volume is relatively low as the most traded 100 cryptos typically have $100 million exchanged each day and smaller cryptos tend to sit under $5 million traded over 24 hours. Over the past 24 hours RVC's volume is below its average with $16,072.40 exchanged.

Summary

RVC's recent trading over the past month give it a weak short-term technical score as its recent price movement give traders reason to be more bearish on the coin in the short-term. Click Here to get the full Report on Ravencoin Classic (RVC).