Ravencoin’s RVN Trading Volume Surges, Hinting at Rally
The trading volume of Ravencoin’s native token RVN has surged by 92.63%, indicating increased trading activity in the ecosystem. The market value of Ravencoin is $0.015, with a 1.8% increase in the last 24 hours. This price gain brings hope of a rally for investors.
KAVA Shows Bearish Outlook, Declining Price
KAVA is currently in a sideways trend, with a negative change in its value. It has lost 7.8% in the last week and 16.7% in the past month. The year-to-date ratio is down by 48.8%, showing a progressive decline. The asset’s price has been steadily declining since July 24, with a consolidation phase between August 18-23.
RVN Trades Below SMAs, Bearish Sentiment
RVN is trading below its 50-day and 200-day Simple Moving Averages (SMA), indicating that sellers dominate the market. Despite a bullish rally in June, the bears forced a decline in July. The Relative Strength Index (RSI) confirms the bearish sentiment, although the Moving Average Convergence Divergence suggests that sellers might relent in the coming days.
RVN’s Support and Resistance Levels
RVN has faced solid pressure at the $0.016 resistance level, failing to break above it. However, the $0.015 support level prevents further decline, hinting at a possible recovery. The next price direction will be confirmed by the closing candles on August 23 and 24.
Ravencoin Financial Struggles Impact Price
Ravencoin’s financial struggles, as noted by co-founder Tron Black, are likely affecting the price. The platform, although great for asset tokenization, lacks marketing budgets. The price gains in the past 24 hours may be a result of community willpower, with engaged members on Twitter hoping for a surge.
Viral Sonik Coin Hits Presale Success
Sonik, the first fastest stake-to-earn (S2E) crypto project, has gained significant interest from investors. With no affiliation to Sonic the Hedgehog, the project’s inspiration from the character boosts its popularity. It offers high-reward potential with its $SONIK token and stands out with its staking features. Over 13 billion $SONIK tokens have already been staked out of the total supply of 299 billion. Early investors have monetized their funds by buying and staking $SONIK tokens even during the presale.
Hot Take: While Ravencoin faces uncertainty in its market moves, investors may consider diversifying their portfolio to emerging assets like Sonik Coin, which has shown presale success and a unique staking concept.
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