RVN is one of the few tokens who I think is nearing the end of its technical bear market. Even with the most recent bearish news hitting the markets, RVN appears to be unstoppable and is trading near a long-term resistance.
For the coming week, this resistance is key. For the bulls, the ideal scenario would be for the price to break out, retest the resistance as support, and move back up towards $0.10 and beyond. RVN might pull off what LINK pulled off last bear market, namely being one of the few tokens which continues to gain during a stressed market.
The bearish case is clear; a reversal from the top resistance and a move back down towards the bottom support of the channel.
For either way, be patient and wait for confirmation of the trend.
For the coming week, this resistance is key. For the bulls, the ideal scenario would be for the price to break out, retest the resistance as support, and move back up towards $0.10 and beyond. RVN might pull off what LINK pulled off last bear market, namely being one of the few tokens which continues to gain during a stressed market.
The bearish case is clear; a reversal from the top resistance and a move back down towards the bottom support of the channel.
For either way, be patient and wait for confirmation of the trend.
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