RVNUSDT Market Overview: 24-Hour Price Action and Key Drivers

• Ravencoin (RVNUSDT) dropped to a 24-hour low of $0.01404 before stabilizing around $0.01500.
• A strong bearish momentum was observed mid-day, followed by a late rally that capped the session near $0.01515.
• Volume surged during the afternoon decline, confirming bearish sentiment, but waned during the recovery phase.
• RSI briefly entered oversold territory, suggesting potential for a short-term rebound.
• Price appears to be consolidating near key psychological levels ahead of a potential breakout.

Ravencoin (RVNUSDT) opened at $0.01544 on 2025-07-23 at 12:00 ET, reaching a high of $0.01563 and a low of $0.01404 before closing at $0.01515 on 2025-07-24 at 12:00 ET. Total volume for the 24-hour period was approximately 195,616,665 RVN, and turnover was $2,934,308 USDT.

Structure & Formations

The 15-minute chart reveals a bearish breakdown from key resistance levels around $0.01530–0.01550, with price falling to a 24-hour low near $0.01404. A large bearish candle on 2025-07-23 at 17:30 ET (12:30 ET-1) marked a key pivot point in the short-term bearish trend. A later recovery saw the price form a bullish engulfing pattern on 2025-07-24 at 03:30 ET, signaling potential for a short-term bounce.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages both trended downward during the major sell-off, confirming bearish momentum. The 50-period MA crossed below the 20-period MA, forming a death cross that reinforced the bearish bias. On the daily chart, the 50-period MA remains above the 100-period and 200-period MAs, suggesting a longer-term bearish trend with some lingering support.

MACD & RSI

The MACD line turned negative during the mid-day selloff, with the histogram widening to reflect increasing bearish momentum. RSI reached oversold levels near 30 during the afternoon, hinting at a possible short-term bounce. However, the RSI remains below 50, indicating that the overall bias remains bearish.

Bollinger Bands

Price traded near the lower Bollinger Band for much of the session, confirming oversold conditions and bearish pressure. A brief move back toward the middle band in the evening suggests a potential near-term reversal, though the band width remains relatively wide, indicating ongoing volatility.

Volume & Turnover

Volume spiked during the mid-day selloff, particularly on the large bearish candle at 17:30 ET, confirming the bearish sentiment. Turnover also surged during this period, with notional value exceeding $150,000 USDT on a single candle. However, volume declined during the late-day rally, suggesting the recovery lacks strong conviction and could be short-lived.

Fibonacci Retracements

The 61.8% Fibonacci retracement level of the recent 15-minute bearish swing fell near $0.01460–0.01480, which coincided with a key support area. Price found temporary support at this level before bouncing back toward $0.01500. On the daily chart, the 61.8% retracement level for the broader bearish move is around $0.01450–0.01470, which could become a key area to watch for further consolidation.

RVNUSDT may attempt a short-term rebound from current levels, supported by the 61.8% Fibonacci and RSI oversold conditions. However, the bearish bias remains intact unless price breaks back above $0.01530. Investors should remain cautious of further downside risks if volume fails to confirm any bullish follow-through.