Can Ravencoin RVN/USD sustain momentum after 5% gains?

• Ravencoin surged on Friday despite a bearish crypto market

• The blockchain, forked from Bitcoin, is a beneficiary of the ETH merge

• Technical indicators are currently bearish, casting doubts on sustained gains

Ravencoin RVN/USD surged 5% on Friday. At the time of writing, the token was trading for $0.03651. Although the pump is not tied to any specific factor, there is a rising interest in Ravencoin among crypto miners. As a PoW blockchain, it was one of the notable gainers after Ethereum’s proof-of-stake merge.

Crypto miners opted for Ravencoin as an alternative to ETH mining. Besides, the blockchain platform has equally seen rapid expansion. This follows a step by FTX crypto exchange to list RVN perpetual features a mid-last month. The futures let investors speculate on the price of RVN.

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