$RAVE Hits $18.56 Record High! Massive Liquidations & Shakeout!
The volatility on $RAVE is absolutely off the charts today! After a monumental push to a new 24H high of $18.56, the market experienced a sharp pullback, triggering significant liquidations across the board.
We are currently hovering around $14.90.
📊 Technical Breakdown (4H Chart):
• The Shakeout: That massive wick up to $18.56 shows heavy resistance and profit-taking. Late longs got flushed out in the subsequent drop.
• RSI Cooldown: The RSI(6) has dropped significantly to 61.35. The extreme overbought conditions have been neutralized, giving the chart a much-needed reset.
• Current Action: The bulls are trying to establish support in the $14-$15 range, fighting back with a green 4H candle.
Is this a healthy correction before the next leg up to $20, or are we heading deeper into a bearish retracement? Risk management is vital in these conditions!
👇 What’s your next move on $RAVE ? Let's discuss in the comments!
#RAVE #RAVEUSDT
The volatility on $RAVE is absolutely off the charts today! After a monumental push to a new 24H high of $18.56, the market experienced a sharp pullback, triggering significant liquidations across the board.
We are currently hovering around $14.90.
📊 Technical Breakdown (4H Chart):
• The Shakeout: That massive wick up to $18.56 shows heavy resistance and profit-taking. Late longs got flushed out in the subsequent drop.
• RSI Cooldown: The RSI(6) has dropped significantly to 61.35. The extreme overbought conditions have been neutralized, giving the chart a much-needed reset.
• Current Action: The bulls are trying to establish support in the $14-$15 range, fighting back with a green 4H candle.
Is this a healthy correction before the next leg up to $20, or are we heading deeper into a bearish retracement? Risk management is vital in these conditions!
👇 What’s your next move on $RAVE ? Let's discuss in the comments!
#RAVE #RAVEUSDT