Ravencoin (RVN) squeezing inside the bullish pennant

Ravencoin, similarly to Bitcoin, is halving block reward every 2,100,000 blocks. Because one block is generated approximately every 1 minute, the halving happens approximately every 4 years. Ravencoin halvings will continue to happen every 2,100,000 blocks until the reward can no longer be halved.

Earlier the reward for mining a block was 5000 RVN but after the January 2022 halving it got reduced to 2500 Rvn which means less dumping from the miners. As we have seen previously in BTC which increased significantly in value after halving, same might happen in ravencoin as it is a fork of bitcoin.

RVN is increasingly used to mint NFT's which means more demand for RVN to issue assets on its blockchain.

Rvn price and Macd are squeezing in this massive triangle which it about to come to an end and it might go up sooner or later.

Keep this GEM in your watchlists.