Ravencoin Long

Ravencoin seems to be in a great position to go long. Aside from my possibly amateur wave counts, RVN is on a support as well as being oversold using my version of the Mayer Multiple. There's also Bullish MACD divergence as well. Putting all of these together leads me to believe that RVN is a safe buy for now and I don't see much of a reason for it to keep going lower.

Comment:

Looks like the price is still going lower. It has also now reached extreme levels of being undervalued and is oversold in all timeframes. It has also almost completely retraced the whole rally from late February. I'm not sure how low it's going to continue but the bullish divergence is still present including in lower time frames despite the continued drop in price.

What I find the most odd is that when bitcoin was going up the price of RVN naturally went down. However, bitcoin is now dropping in price but RVN is still going down. I was expecting the drop in Bitcoin's price but I was also expecting RVN to do the opposite. Lets see what the price does in the next few days.