The $RVN is still under pressure on the 4H chart, which is trading in a well-defined descending channel after a failed run at 0.0080. Price recently bounced from the 0.0055-0.0058 area and is now moving towards the mid-channel resistance around 0.0065-0.0070 area where there is prior supply and trendline confluence.

If 0.0065-0.0070 is rejection of the recovery, the structure is favoring continuation towards 0.0040-0.0045 near the channel floor. A sustained break above that resistance band would be needed to play on the bearish momentum.

RVN
RVNUSDT
0.00617
+4.93%