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
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Market Structure • Price Action • Crypto Updates
🔗 Telegram: t.me/Coach
🔗 Telegram: t.me/Coach
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.