#Ravencoin attracted all the attention with a 100% increase in a week.
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The cryptocurrency market turned green with the leading cryptocurrency Bitcoin breaking the $43,000 threshold and the largest altcoin Ethereum seeing $3,000. Ravencoin managed to become one of the best performing altcoins in the market after huge gains. Ravencoin attracted all the attention with a 100% increase in a week.
⚡Ravencoin Shines Its Star⚡
Ravencoin touched $0.1 with a 32% gain in 24 hours. RVN is currently on a massive rally and is among the top performing cryptocurrencies. Although the RVN has reached the $0.1 resistance point, this zone has not been crossed yet. Expert analysts predict the continuation of the rise in RVN in parallel with the course of Bitcoin.
#Ravencoin has followed an incredible sequence, increasing 100% since the beginning of this month. RVN, which was traded around $0.05 at the beginning of August, doubled its price. A pullback was seen after Ravencoin's top of $0.1. Although #RVN maintains its upside momentum, the $0.07 area could be seen again in a possible downtrend.
According to the daily chart data, the RSI is in the overbought zone with 83. The MACD confirms the uptrend while the Momentum indicator confirms that the route is to the upside.
📢Experts Cautious
Despite what the cryptocurrency market has achieved in the past two weeks, market analysts are wary of future crypto regulations from the US. The bill of crypto regulations includes a clause that the Biden administration will generate an additional $28 billion as a result of taxing cryptocurrencies.
The bill is still being debated in the US legislature. Once the bill is passed and enacted, the IRS will have access to stock market records of gains and losses from crypto trading. Enforcement of the bill could have significant effects on ongoing crypto bulls.