RVN Forming Triangle Structure Inside Major Descending Channel
#RVN continues to trade inside a long-term descending channel, maintaining the broader bearish market structure with consistent lower highs and lower lows. Price has now reached the lower boundary of the channel, where selling pressure is starting to slow.
Within this area, the market is forming a small triangle pattern, indicating compression as volatility contracts near support. This structure suggests the market is preparing for a directional move while testing the lower edge of the broader channel.
If RVN breaks above the triangle resistance, the move could trigger a relief rally toward 0.00597, with further upside potential toward 0.00686, aligning with the channel mid resistance.
However, if price breaks below the triangle support, the bearish channel structure would remain dominant. In that scenario, RVN could continue moving lower toward 0.00528 and 0.00471, following the descending channel.
For now, RVN is compressing inside a triangle at the lower boundary of a descending channel, and the breakout direction will likely determine the next short-term move.
Within this area, the market is forming a small triangle pattern, indicating compression as volatility contracts near support. This structure suggests the market is preparing for a directional move while testing the lower edge of the broader channel.
If RVN breaks above the triangle resistance, the move could trigger a relief rally toward 0.00597, with further upside potential toward 0.00686, aligning with the channel mid resistance.
However, if price breaks below the triangle support, the bearish channel structure would remain dominant. In that scenario, RVN could continue moving lower toward 0.00528 and 0.00471, following the descending channel.
For now, RVN is compressing inside a triangle at the lower boundary of a descending channel, and the breakout direction will likely determine the next short-term move.
Market Structure • Price Action • Crypto Updates
🔗 Telegram: t.me/Coach
🔗 Telegram: t.me/Coach
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Market Structure • Price Action • Crypto Updates
🔗 Telegram: t.me/Coach
🔗 Telegram: t.me/Coach
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.