No products in the cart.
- Latest
- Trending
ADVERTISEMENT
RavenCoin Has Slightly Recovered After Binance Pool Support
Cryptocurrency trades on a downtrend line
RVN Could Fall Further, But Technical Indicators Are Improving Slightly
Ravencoin (RVN/USD) is trading at $0.022 at the time of writing after a minor correction. The cryptocurrency had previously surged from lows of $0.020 to $0.025, showing some bullish signs.Behind the plus comes a profit cryptocurrency news.
According to the November 23rd announcement, Binance Pool supports RavenCoin. The RavenCoin mining service uses PPS+ payments and the mining pool fee is set at 1%. This support came after the Ethereum merger in September increased demand for the token. RavenCoin uses a proof-of-work consensus mechanism. Thus, Ethereum’s move to a Proof-of-State consensus mechanism has increased the demand for his PoW tokens like RVN.
RavenCoin itself is a fork of Bitcoin, the PoW blockchain. Blockchain is a peer-to-peer network that allows users to create tokens for any asset. Binance Pool’s latest support has fueled optimism that RVN can overcome a prolonged downturn. But how bullish are cryptocurrencies?
Despite recent gains, the RVN has yet to overcome the steep decline that has been going on since September. The cryptocurrency is trading at the downtrend line. It has tested the upper end of the trendline and is facing some resistance.
However, the MACD and RSI indicators are positive for RVN. The MACD line has risen above the signal line, signaling a bullish reversal. However, the indicator remains bearish. Similarly, the RSI has recovered slightly, but the reading remains below the midpoint.
RavenCoin’s momentum could continue for some time.If buy an RVNit should be noted that there may be further downsides based on price action.
binance
Binance is one of the largest cryptocurrency exchanges in the world. Suitable for more experienced investors, with over 600 cryptocurrencies to choose from. Binance is also known for its low transaction fees and multiple trading options that users can benefit from. Peer-to-peer trading, margin trading, spot trading.
Buy RVN now on Binance
coin gate
CoinGate is a Lithuania-based fintech company founded in 2014. Payment gateways provide cryptocurrency payment processing services to businesses of all sizes. Permission-based account management, fiat payments to bank accounts, and all-new email billing capabilities are just a few of the reasons Coingate has become the go-to payment processor for many.
Buy RVN now on Coingate
