Market Overview for Ravencoin (RVNUSD) on 2025-09-02

• Price opened at $0.01302 and closed at $0.01293 with intraday high of $0.01317 and low of $0.01276
• A sharp drop followed by consolidation and a late rally brought price back near opening levels
• Volume was uneven, with a large spike at 23:15 ET and another at 00:30 ET
• RSI and MACD suggested moderate momentum with no clear overbought or oversold signals

Ravencoin (RVNUSD) opened at $0.01302 on 2025-09-01 at 12:00 ET and closed at $0.01293 by the same time on 2025-09-02. Intraday highs reached $0.01317 and lows fell to $0.01276. Total traded volume over the 24-hour period was 218,387.1 RVN, with notional turnover of $3,070.37 USD.

Structure & Formations

Price action revealed key support at $0.01276–0.0128 and resistance at $0.01308–0.01315. A sharp bearish move from $0.01302 to $0.01287 occurred between 20:45 and 23:15 ET, followed by a consolidation phase. A small bullish reversal was seen late in the day, with a candle forming a small bullish engulfing pattern at $0.0131–0.01315. A doji formed around $0.01287–0.0129, indicating indecision. These formations suggest that the market is consolidating after a sharp drop, with a potential test of key resistance ahead.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages crossed into a bearish alignment by late evening. Price briefly bounced off the 20-period MA during the late rally. On the daily timeframe, the 50- and 200-period MAs remain neutral to slightly bullish, but the 100-period MA is starting to cross into bearish territory as price action lingers near lower levels.

MACD & RSI

MACD showed a bearish crossover early in the trading day, but the indicator began to flatten as the market bounced back in the late hours. RSI moved into oversold territory briefly below 30 before bouncing back to around 45–50, indicating moderate momentum but no strong overbought conditions. The divergence between RSI and price during the late rally suggests some short-term optimism could be forming.

Bollinger Bands

Volatility expanded during the sharp drop and narrowed during the consolidation phase. By 03:00 ET, volatility had widened again during the late rally, with price pushing outside the upper band at $0.01315–0.01317. The upper band acted as a temporary resistance, and the lower band at $0.01276–0.01287 served as support. The current position near the middle band suggests neutral to slightly bullish bias.

Volume & Turnover

Volume spiked sharply at 23:15 ET, coinciding with a breakdown to $0.01276. This was the most active candle of the day, followed by a secondary spike at 00:30 ET during a rally to $0.01308. Despite the volume spikes, turnover remained relatively low, indicating that the price action was driven by smaller trades or market makers. No clear divergence was observed between price and volume, suggesting the moves were supported by trading activity.

Fibonacci Retracements

Applying Fibonacci retracements to the sharp bearish move from $0.01308 to $0.01276, the 61.8% level at $0.01290 and the 78.6% level at $0.01297 were both tested and partially held. The 100% level at $0.01276 acted as key support, which was tested and held once in the late evening. On the 15-minute chart, Fibonacci levels helped identify potential reversal zones during the consolidation phase.

Backtest Hypothesis

Based on the observed structure and momentum indicators, a potential backtesting strategy could involve entering long positions on a break above the 20-period MA on the 15-minute chart, provided RSI is above 40 and volume increases. A stop-loss could be placed below the 0.01276 support level. A short-term exit could occur on a close below the 50-period MA or if RSI drops below 40 again. The strategy would aim to capture bullish retracements from key support levels, while managing risk by capping exposure on bearish signals.