RVN: 35% to the Upside Post Retest
Following its recent breakout RVN appears to be falling 13% to the downside before a cooling off period. This period will see a 35% upside. Excellent news to investors and traders alike hunting for gains in this current rock market terrain.
What does the Technical Analysis Say?
- RVN according to Wycoff theory illustrates that following a breakout – there must be a downside to cool off before shooting off for higher gains.
- Previous historical data illustrates that the last time this occurred, RVN went 13.67% to the downside before blasting 20% to the upside.
- A 13.39% decrease to the green area in the chart below would be where the supply zone is for previous wicks.
- Accumulation as shown by the OBV has been spiking up over the past several days
- Market sentiment has increased for the first time in one week – illustrating that we will see a re-set before a pump.
- A dump to the 0.618 area will illustrate a historical cooling off period in Crypto according to Nouvive Intelligence.
Nouvive sees a trade from 480 Sats to a take profit at 640 Sats.
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