Ravencoin (RVN) is losing 5.0% to $0.01234 this week, underperforming the broader crypto market, where Bitcoin (BTC) is down 2.7% to $109,798. The token has been consolidating after a sharp 122% jump to $0.02426 in July, fuelled by its listing on Upbit. However, RVN failed to sustain those levels and has since moved sideways. The current trading range is narrowing, suggesting a potential breakout ahead. Encouragingly, prices have surpassed the downtrend resistance, improving the chances of further upside. To confirm a bullish trajectory, RVN must rise above the $0.01500 resistance. Otherwise, a dip towards $0.01000 remains possible, with recovery potential thereafter.
