Ravencoin (RVN) has been surging the past week – should you buy it?

Ravencoin (RVN) is close present 1 of the champion performing coins successful the market. The token is up 20% implicit the past week. These gains would beryllium adjacent higher were it not for today’s broader crypto pullback that saw RVN suffer implicit 10% successful 24 hours. So, what is Ravencoin (RVN), and should you adjacent see it? The investigation is beneath but first, immoderate highlights:

• This week's gains person helped Ravencoin (RVN) surge past its December lows by astir 80%.

• At property time, the token was down 10% successful 24-hour intraday trading but is inactive 20% up implicit the past 7 days.

• Despite this affirmative momentum, Ravencoin (RVN) inactive remains 62% from all-time highs successful 2021.

Data source: Tradingview.com 

Ravencoin (RVN) – Price investigation and prediction

Ravencoin (RVN) was launched 4 years ago. During this period, the token has reported important growth. The caller 7-day surge suggests that possibly determination is mode much to travel from Ravencoin (RVN). 

Besides, astatine the clip of writing, the coin had a marketplace headdress of astir $1.2 billion, an denotation that determination is inactive capable upside to unlock much worth successful the agelong term. Right now, the coin is besides supra its 25- and 50-day moving average. 

Despite the 10% 24 hr propulsion back, Ravencoin (RVN) is inactive supra its absorption level of $0.115. We expect the token to commercialized supra this threshold arsenic agelong arsenic sentiment successful the broader crypto doesn’t deteriorate further.

Why you should bargain Ravencoin (RVN)

Ravencoin (RVN) is built connected a fork of the Bitcoin code. It is designed to beryllium a peer-to-peer blockchain web that facilitates the transportation of crypto assets successful the astir businesslike and little costly way. So far, the task has earned the spot of galore investors. Although it is not truly the astir promising blockchain task today, it could inactive connection decent returns for semipermanent plays.