RAVE Token Explodes 4,500% in One-Week Short Squeeze
- Token Price Surge: The RAVE token experienced a staggering 4,500% increase over a week, rising from approximately $0.21 to $9.96, with market capitalization soaring from $60 million to $2.8 billion, indicating heightened market interest.
- Forced Liquidations: Over $44 million in RAVE futures positions were liquidated within a 24-hour period, predominantly affecting short sellers, reflecting extreme market volatility and speculative trading behavior.
- Supply Concentration Risk: Approximately 90% of RAVE's circulating supply is held in three Gnosis safe wallets, which could lead to significant market impact during large transfers, increasing the risk of price volatility.
- Overbought Technical Indicators: RAVE's Relative Strength Index (RSI) reached 99.18, indicating extreme overbought conditions, while the current price exceeds the upper Bollinger Band by $3.30, suggesting potential for a price correction.
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Technical Analysis for TOKEN
Technical Sentiment Analysis for TokenFi (TOKEN). As of , TokenFi (TOKEN) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 7 technical signals, shows that 2 indicators are flashing buy, while 5 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for TOKEN stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, TOKEN is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
TokenFi (TOKEN) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.00197 | 0.00216 | 0.00232 | 0.00251 | 0.00268 | 0.00287 | 0.00303 |
| Fibonacci | 0.00216 | 0.00229 | 0.00238 | 0.00251 | 0.00265 | 0.00273 | 0.00287 |
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