$RAVE is a high volatility asset that has recently attracted a lot of short-term funds. The contract depth is sufficient, and the emotional elasticity is great, making it a typical currency with a strong 'whale' flavor. A previous rapid surge directly ignited market sentiment, but the characteristic of this kind of currency is that it rises sharply and also retraces mercilessly, specifically targeting those who chase highs.
The core reason for this round of decline is actually not complicated:
First, the release of a dense trapped position from previous highs. There was not enough turnover during the rising process, and once it couldn't push higher, funds directly dumped and fled.
Second, high-leverage long positions were liquidated. The long positions were too piled up, and when the price retraced, it triggered a chain liquidation, accelerating the decline.
Third, the emotional tide has receded. Without continuous positive support, as soon as the heat drops, funds immediately shift locations.
If you are still anxious about which currency to trade in the current market, if you are still feeling emo about missing out or being trapped, stop overthinking it! Chat room speed
