FOMO

Resistance

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>RIVN stock price is currently trading at $22.74, with a drop of 4.09% in the last 24 hours and a current market cap of $21.566 Million.</a> </li> 
 <li> <span>2</span> <a>RIVN stock price decreased by 2.02% over the past seven days</a> </li> 
</ul> 
<p>The RIVN stock price failed to sustain the high of $28 and reversed its direction, resuming the downtrend that indicates further weakness in the market. The market is trading below the dynamic support trendline, which could lead to more downturns. The market is also in a downtrend on a larger time frame, as it is creating lower lows.</p> 
<p>RIVN has been falling from its peak levels and forming lower-level structures. It is in a bearish trend after breaking below the 20-day and 200-day moving averages. The bearish pressure could push Rivian to form a new lower low soon and extend the downtrend.</p> 
<p>The current situation requires traders and investors to be patient and wait for a clear signal of a break above or below the range before making any moves. They should also avoid FOMO and minimize losses.</p> 
<p>The RIVN stock price fell by 2.02% last week; it inclined by 12.30% through the month. Furthermore, Rivian shares experienced a rise of roughly 68.44% within the past six months and a decrease of -41.42% over the past year.&nbsp;</p> 
<p>Additionally, the Rivian share price has risen by approximately 20.32% year to date. These trends collectively indicate the challenges faced by RIVN in their recovery efforts throughout the year.</p> 
<h2 class="wp-block-heading" id="strong-technical-analysis-of-rivn-stock-price-in-1-d-timeframe-strong"><strong>Technical Analysis of RIVN Stock Price in 1-D Timeframe</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large">
  <img decoding="async" loading="lazy" width="1024" height="456" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-613-1024x456.png" alt="" class="wp-image-169889" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-613-1024x456.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-613-300x134.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-613-768x342.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-613-1536x684.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-613-750x334.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-613-1140x507.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-613.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Source: RIVN.1D.NASDAQ by <a href="https://www.tradingview.com/x/n1jIMngB/">TradingView</a>
  </figcaption>
 </figure>
</div> 
<p>At the moment, RIVN stock (NASDAQ: Rivian) is trading below the 20 and 200-day EMAs (exponential moving averages), which are not supporting the price trend. If bulls want to make a comeback, the <a href="https://www.thecoinrepublic.com/2023/09/09/rivn-stock-price-fell-18-in-august-can-it-recover-this-month/" target="_blank" rel="noreferrer noopener">price</a> must sustain above the 200-day EMA. However, the sellers seem to be more aggressive</p> 
<p>The current value of the RSI is 49.01 points. The 14 SMA is above the median line at 56.41 points, which indicates that the RIVN stock is bearish. The MACD line at 0.3440 and the signal line at 0.2528 are above the zero line, signaling more neutrality for the Rivian stock price.</p> 
<h4 class="wp-block-heading"><strong>Summary</strong></h4> 
<p>The RIVN stock price prediction suggests a mild bearish trend in the chart. The sellers are dominating on the higher levels. RIVN stock technical oscillators also support the bearish trend. The MACD, RSI, and EMA are emphasizing negative signs and implying that the downtrend may continue in the Rivian stock price. RIVN price action suggests that investors and traders are bearish on the 1-D time frame, and the probability of testing the previous highs in the coming months remains low.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<ul> 
 <li><strong>Support Levels</strong>: $18.93 and $15.13</li> 
 <li><strong>Resistance Levels: </strong>$27.08 and $31.44</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions</p>

RIVN Stock: Will Rivian Stock Rebound From the $22 Level?

Table of Contents

Thecoinrepublic.com

Other articles published on Sep 20, 2023

Balancer confirms social engineering attack caused front end issues

Is Now the Time to Invest in Altcoins? What Expert Thinks

How Ethereum Clawed Its Way Back from the $1,550 Abyss, Is $2K In Reach?

Bybit adds PayPal USD stablecoin, PYUSD, to its platform

Imminent Historic Surge for Bitcoin

Ripple’s Big Crypto Push: Is a Major eCommerce Transformation Coming?

Join our free newsletter for daily crypto updates!