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$RAVE Continually rising for a week, today the 18-dollar daily chart started to turn bearish. Is this the beginning of a waterfall decline?
Actually, based on the current on-chain funds, the main players have not reduced their holdings, and on-chain funds are still flowing in continuously.
Plus, on the liquidation map, there are nearly 30 million chips waiting to be liquidated at the 16.6 USDT level, and currently the contract fee is -1%, meaning there are more people shorting. So it's very clear that this trend is gathering chips to trigger a short squeeze.
Because the fee has just been collected, there was a slight pullback. It hasn't yet experienced the massive fund outflows and waterfall decline like PIPPIN, STO, or AIA, so it's basically certain that in the short term, it's just a shakeout to clear leverage.
For RAVE's current levels, I personally do not recommend shorting. You can wait for a dip or a pullback to go long.
What are your thoughts on this妖币?
#Gate3月透明度报告
#孙宇晨指控WLFI锁资产