Is RavenCoin Ready for a Comeback? - Price Analysis

RavenCoin (RVN) has been one of the star performing altcoins for over a year now. Not only did it manage something like 700% from its bottom during 2019 (versus USD), but perhaps more impressively it also managed hundreds of percentage points of gains even during the brutal 2018 bear market - when just about nothing was doing well.

Now, after a few months of retracement from its March 2019 all time high, it seems appropriate to consider the current status of this promising altcoin.

We start on a 3-day RVN/BTC chart from Bittrex, probably the best chart available. The very obvious thing to note right away is the extremely depressed price. We can see that over 80% of price has been shed from the all time high, after a deep retracement.

An extensive retraceRVN chart by TradingView

Volume here is still mostly falling in general; and we can note that during the previous big season of retracement, from November 2018 to  February 2019, volume spent a long time being flat before price returned to the positive side. Price on this chart has not closed above the 13 exponential moving average (EMA) in a while.

Moving to the daily RVN/BTC chart, we absolutely see all the signs of a price consolidation that would precede a breakout. The basic pattern is a falling wedge, which is a bullish pattern implying a break up at the end of its cycle. The RSI is continuously diverging bullishly from price, and we also see an absence of hidden bearish divergence which would suggest (down)trend continuation. The MACD is steadily cycling up and is now quite near the positive side, and the histogram is consolidating into an apex. And referencing our previous statement about volume, the volume on this chart actually does look quite flat.

Consolidation & growing strengthRVN chart by TradingView

Price here is just about to slam into the baseline support of the entire chart, the same which previously propelled the altcoin out of a consolidation period. To be clear, there are no explicit signs that any overt buying interest is coming in. What’s more, the altcoin market continues to get smashed and overshadowed by Bitcoin, as Bitcoin dominance grows with impunity at the cost of altcoins like Ethereum (ETH).

Finally, having a look at the RVN/USD side, we see perhaps a less bullish picture, with no RSI divergences visible. Histogram is slowly coming back up after a very steep and extensive double bottom, and is ticking up toward the center. The MACD is very steep in negative territory, although it looks likely for an arc up soon.

USD chart not as compellingRVN chart by TradingView

Price itself also looks to be trending in a falling wedge pattern, and is about to run into thick support. Price on the USD chart is perhaps more erratic because of the effect of Bitcoin’s price on altcoins generally.

RavenCoin has proven itself to be popular, and has repeatedly pumped very hard ever since it was in the minor league on small exchanges. It could well have a new cycle coming.

The views and opinions expressed here do not reflect those of CryptoGlobe.com and do not constitute financial advice. Always do your own research.

Hackers Try to Sell Data of 142 Million MGM Hotel Guests for Bitcoin or Monero

Hackers are trying to sell the data of 142 million MGM hotel guests on the dark web for about $2,900 worth of cryptocurrency, payable in either bitcoin or monero (XMR).

According to ZDNet, the data comes from a 2019 data breach that MGM Resorts (NYSE: MGM) that was initially believed to have only affected 10.6 million MGM hotel guests, as the hackers published a free sample of the data available for download.

The new finding, that a total of 142,479,937 hotel guests had their data stolen by a hacker, was discovered after a hacker published an ad to sell the data on a darknet market. The hacker claims to have gotten to the data after breaching data leak monitoring service DataViper, which is operated by Night Lion Security.

The founder of Night Lion Security, Vinny Troia, reportedly told ZDNet the firm never owned a copy of MGM’s full database, and that the hackers were trying to ruin its reputation with their claims. While MGM Resorts learned of the security breach last year, it did not make it public and instead just notified impacted customers.

Speaking to ZDNet, an MGM spokesperson said:

MGM Resorts was aware of the scope of this previously reported incident from last summer and has already addressed the situation

The spokesperson also added that the majority of data consisted of “contract information like names, postal addresses, and email addresses.”  Social Security numbers, reservation data, and other financial information was not leaked, according to MGM.

Irina Nesterovsky, Head of Research at threat intel firm KELA, reportedly noted that the MGM data has been for sale on private hacking circles since at least July 2019 and that the situation could be even worse, as posts from Russian-speaking forums claimed to contain the details of 200 million hotel guests.

For now, it’s only clear that the hacker who has the data is trying to sell it for $2,900 worth of either bitcoin or XMR on an unnamed darknet marketplace.

Featured image via Pixabay.