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The Ravencoin price surged 49% in the last 24 hours to trade at $0.01689 as of 6:15 a.m. EST as traders go long on the crypto.
The steep rise in the RVN price comes after the Korean-based centralized exchange Upbit announced that it has added the token to its platform.
Ravencoin(RVN) KRW Market Support
✅ Supported Market : KRW Market
📅 Trading opens at: 2025-06-05 17:00 KST (estimated)🔗 Discover more: https://t.co/aY8HXZqnMr #Upbit #RVN@Ravencoin pic.twitter.com/QLnKRtcBi2
— Upbit Korea (@Official_Upbit) June 5, 2025
Ravencoin Price Breaks Out Of A Negative Channel With Force
Daily chart for RVN/USD (Source: GeckoTerminal)
The Ravencoin price escaped a medium-term descending channel with force in the last 24 hours, breaking through the $0.01226, $0.01482 and $0.01732 resistance levels in the process, data from GeckoTerminal shows. It has since retraced to trade at its current level.
Should bulls continue to buy into RVN, the altcoin might end up closing today’s trading session above the $0.01732 mark. This could then give it a technical foundation to rise off from and continue its rally in the short term.
However, a sudden wave of profit-taking activity could knock the Ravencoin price back down. In this alternative scenario, RVN might end up falling below the recently-breached $0.01482 mark. Continued pressure from bears could then lead to a test of the aforementioned $0.01226 level.
Ravencoin Price Still Showing A Lot Of Bullish Technical Strength
From a technical perspective, indicators on the daily chart suggest the Ravencoin price might continue to climb in the next 24 hours. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) are flashing bullish.
That’s after a major bullish technical flag was triggered by the MACD in the last few hours, when the MACD line crossed above the MACD Signal line during this period. This technical event is a classic indication that an asset has entered a positive trend. Additionally, the MACD breaking away above the Signal line could indicate that RVN’s bullish momentum is strengthening.
Buyers have managed to overwhelm sellers as well, as evident by the sharp rise in RSI values. The current reading above 70 places the Ravencoin price in overbought territory, which could lead to a minor pullback.
However, the bullish momentum suggests any retracement in the short term will likely be followed by another move to the upside. The positive slope of the RSI line also signals that bulls maintain control of the Ravencoin price. If they capitalize on this strength, they might be able to push RVN even higher.
As the Ravecoin price rallies, investors are piling into the presale for Solaxy (SOLX), which is just days away from listing on major exchange.
Experts have predicted the altcoin will rally after its launch. Among them is 99Bitcoins, a popular YouTube channel with over 723K subscribers, which says SOLX could soar 100X once it goes live.
Solaxy To Scale Solana To New Heights
Solaxy is the first layer-2 scaling solution for the SOL ecosystem. While Solana was initially launched as a more cost-effective and faster alternative to the legacy Ethereum chain, the SOL network often struggles during periods of peak traffic.
This was evident with the frenzy that erupted around the Official Trump (TRUMP) meme coin launch at the beginning of the year.
To prevent another Solana network outage, Solaxy aims to shift the network’s transaction processing workload off of the mainnet.
On its own sidechain, Solaxy will process and bundle transactions before submitting them to the Solana network for final validation. This is a much more efficient approach compared to the one-by-one method of processing transactions.
In addition to scaling Solana, Solaxy will also bridge the network with the Ethereum blockchain. By connecting two of the most prominent blockchains in the Web3 space, Solaxy will give developers a highly-liquid, scalable and secure platform to build the next big innovation in the crypto space.
Solaxy’s team has already proven that they’re more than just talk, and have already deployed their testnet, testnet block explorer, Solaxy bridge and their own token launchpad. These products were all launched even while Solaxy’s native SOLX token is still in presale.
Investors Rush To Buy SOLX In Presale With Just Days Left
Solaxy has posted one of the strongest presale showings of the year, having raised over $44.3 million in early-stage funding so far. Even whales have started to scoop up some tokens before the ICO ends in less than 2 weeks.
Interested investors can acquire SOLX at this early stage for $0.001746 apiece via the widget embedded on the project’s website using either crypto or bank card. Tokens can also be staked in the project’s presale staking pool for a 91% APY.
Buy before the presale ends in around 11 days.
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