ZachXBT Warns Rain Protocol Investors of Alleged Scammer Ties
- Market Manipulation Risk: Rain Protocol (RAIN) has seen its market cap surge to $8.8 billion, but ZachXBT warns that the price increase appears disconnected from real user activity, suggesting potential market manipulation, urging investors to exercise caution.
- Team Background Concerns: ZachXBT highlights that RAIN's team addresses and funding sources are linked to several past projects facing fraud allegations, including TOMI and Sirin Labs, raising concerns about RAIN's credibility due to troubling patterns of project disappearances.
- Price Surge Raises Red Flags: RAIN's price has risen from approximately $0.007 on May 25 to its current level of $0.014, and this rapid price movement, combined with a lack of verifiable user adoption, has drawn significant scrutiny from the crypto community, prompting investors to remain vigilant.
- Investor Advisory: ZachXBT emphasizes that any investor considering RAIN should conduct thorough due diligence, including verifying team backgrounds and project histories, to avoid potential investment risks, reminding investors to stay cautious in the cryptocurrency market.
Get Real-Time Alerts for Any Crypto Movement
Technical Analysis for RAIN
Technical Sentiment Analysis for Rain (RAIN). As of , Rain (RAIN) is exhibiting a Strong buy technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 4 indicators are flashing buy, while 0 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for RAIN 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, RAIN 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 $-.
Rain (RAIN) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0113 | 0.0119 | 0.0125 | 0.0131 | 0.0137 | 0.0143 | 0.0149 |
| Fibonacci | 0.0119 | 0.0124 | 0.0127 | 0.0131 | 0.0136 | 0.0139 | 0.0143 |
About RAIN
About the author
