RVN Technical Analysis: Will There Be A Continuation Of Consolidation?

Stable consolidation on a global scale is all that can be said about the RVN cryptocurrency in a large timeframe. High risks of liquidity breaking down $0.055, lack of interest from large investors, and minimal volatility. It sounds pretty depressing. These facts increase the likelihood of the RVN price fall to $0.027. But is there really any positive hope for a new wave of RVN growth? To do this, we need to carefully analyze the last fall wave from August 2021. https://www.tradingview.com/x/rUTxy6Er/ On the chart, we see that after two weeks of active growth of the RVN price sellers for six months lowered the price to the bottom line of consolidation. This cryptocurrency is characterized by sharp price rises. In addition, we see that updating local lows during the fall wave from November is starting to be a problem for sellers. Aggression to break the $0.055 mark is not enough. Therefore, by closing the weekly candle above the $0.055 mark, buyers will have every chance to close the month of February with a hint of a reversal of the RVN market. Until we see an increase in the interest of market participants and an increase in trading volumes, we will expect the RVN price to continue to move within the consolidation range of $0.055-$0.14. Therefore, in the case of closing the weekly candle above $0.055, the first target for growth will be the middle consolidation line – $0.088, and the final target – $0.14. Technical Analysis O...