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Ravencoin was top-of-the-line performers last week, however the cryptocurrency has been underperforming over the last 24 hours.
RVN, the native coin of the Ravencoin blockchain, is likely one of the worst performers amongst the highest 100 cryptocurrencies by market cap. RVN is down by nearly 20% within the last 24 hours.
The coin’s poor efficiency coincides with that of the broader cryptocurrency market. The crypto market has misplaced nearly 4% within the last 24 hours, with the whole market cap now round $950 billion.
Bitcoin, the world’s main cryptocurrency, has misplaced greater than 2% of its worth up to now on Friday. As a outcome, BTC is buying and selling beneath the $20k psychological stage as soon as once more.
Ether, the second-largest coin by market cap, has misplaced greater than 8% of its worth today regardless of the Ethereum community efficiently migrating to a proof of stake mechanism roughly 24 hours in the past. ETH is buying and selling beneath $1,500 for the primary time in nearly two weeks.
Ravencoin’s poor efficiency comes after the coin added nearly 100% to its worth last week. It outperformed most cash as miners thought of it one of many main choices once they migrated from the Ethereum blockchain.
Key ranges to look at
The RVN/USD 4-hour chart stays constructive regardless of Ravencoin’s poor efficiency. However, the technical indicators present that RVN is at the moment underperforming.
RVN/USD 4-hour Chart By TradingView
The MACD line is across the impartial zone and will quickly enter the adverse zone if the bearish pattern continues.
The 14-day RSI of 42 exhibits that RVN might enter the overbought area if the bears stay in cost.
At press time, RVN is buying and selling at $0.05222 per coin. If the bearish pattern continues, RVN might slip beneath the $0.04538 assist stage earlier than the tip of the day.
An prolonged bearish efficiency over the weekend might see RVN wrestle to defend the $0.03609 assist stage.
Where to purchase now
Capital.com
Capital.com is a world dealer which gives over 200 cryptocurrencies for its customers.
It comes with a spread of options reminiscent of; nice safety, 24/7 assist, demo accounts and all kinds of belongings.
On prime of that, it additionally has no inactivity, withdrawal or deposit charges, which makes it stand out from different crypto manufacturers.
Buy RVN with Capital.com today
OKX
OKX is a prime cryptocurrency alternate which gives over 140 cryptocurrencies to spend money on.
OKX takes buyer safety very critically, they retailer virtually all of their purchasers’ funds in chilly storage, and the alternate is but to be hacked.
On prime of this, the alternate gives very low charges and prospects may even use their crypto as collateral for loans on the platform.
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