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
免責聲明
這些資訊和出版物並非旨在提供，也不構成TradingView提供或認可的任何形式的財務、投資、交易或其他類型的建議或推薦。請閱讀使用條款以了解更多資訊。