Ravencoin was probably the greatest 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 full market cap now round $950 billion.
Bitcoin, the world’s main cryptocurrency, has misplaced greater than 2% of its worth to date on Friday. As a consequence, 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 after they migrated from the Ethereum blockchain.
Key ranges to look at
The RVN/USD 4-hour chart stays optimistic regardless of Ravencoin’s poor efficiency. However, the technical indicators present that RVN is at present underperforming.
RVN/USD 4-hour Chart By TradingView
The MACD line is across the impartial zone and will quickly enter the unfavorable zone if the bearish pattern continues.
The 14-day RSI of 42 exhibits that RVN may 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 may slip beneath the $0.04538 assist stage earlier than the top of the day.
An prolonged bearish efficiency over the weekend may see RVN battle to defend the $0.03609 assist stage.
Where to purchase now
Binance
Binance is likely one of the largest cryptocurrency exchanges on the earth. It is healthier suited to extra skilled buyers and it affords a lot of cryptocurrencies to select from, at over 600.
Binance can also be recognized for having low buying and selling charges and a a number of of buying and selling choices that its customers can profit from, corresponding to; peer-to-peer buying and selling, margin buying and selling and spot buying and selling.
Coingate
CoinGate is a Lithuanian-based fintech firm based in 2014. The fee gateway affords cryptocurrency fee processing providers for companies of any sizes. Permission-based account administration, fiat payouts to the checking account and model new e mail billing characteristic are just some the reason why CoinGate has change into a go-to fee processor for a lot of.
