OMG Is Breaking Out, RVN Could Soon Do The Same

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In Brief
  • RVN has broken out from a descending resistance line but is facing strong resistance from daily moving averages.

  • A movement above these MAs could take the price all the way to 275 satoshis.

  • OMG is trading inside a short-term descending parallel channel, a breakout from which would signify the beginning of an upward trend.

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After a long period of consolidation, OmiseGO (OMG) is in the process of breaking out. Ravencoin (RVN) is still in its own consolidation period but has shown several reversal signs. Ravencoin (RVN) The Ravencoin price has been decreasing since reaching a high on April 26. During this time, it created a descending resistance line. On June 27, the RVN price broke out from this resistance

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Valdrin is a cryptocurrency enthusiast and financial trader. After obtaining a masters degree in Financial Markets at the Barcelona Graduate School of Economics he began working at the Ministry of Economic Development in his native country of Kosovo. In 2019, he decided to focus full-time on cryptocurrencies and trading.

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