RAVE: CONTINUE UP OR NOT?
$RAVE just printed a ~30% drawdown, then bounced from ~0.258 to 0.31. The question now is whether this move is a real reversal or just a dead-cat bounce.
What the chart says
Price bounced cleanly from a local low → short-term relief confirmed
MA(7) is turning up → short-term momentum improving
Price is still below MA(25) and MA(99) → medium trend remains bearish
Volume on the bounce is moderate, not explosive
This suggests:
👉 Buyers are stepping in, but not aggressively yet.
Key levels to watch
Support: 0.28–0.29
Losing this zone weakens the bounce thesis
Resistance: 0.33–0.35
Needs a strong close above to flip structure bullish
Momentum check
KDJ shows a rebound from oversold → good for short-term continuation
But momentum is already cooling → upside may slow without new volume
Scenario outlook
Bullish case: Hold above 0.29 → attempt to grind toward 0.33–0.35
Bearish case: Rejection near MA(25) → range or retest of lows
Bottom line
This looks like a relief bounce inside a larger downtrend, not a confirmed trend reversal yet. Continuation depends on volume + reclaiming MA(25).
📌 Short-term traders may see volatility
📌 Trend traders still need confirmation
No buy or sell — just structure and probabilities.
