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RAVE suddenly appears with a "Headless Sickle"! Is this a repeat of a thousand-fold opportunity, or the end of high-position buying?
RAVE's recent surge is indeed impressive, but this "giant bearish pin" on the 4-hour chart is enough to make bulls break out in cold sweat!
Technical analysis: The price suddenly surged to 13.33 but then faced strong selling pressure, currently retracing to around 7.95. Note that the MACD red momentum bar is beginning to shrink, and the fast and slow lines are showing signs of a death cross at high levels, which is usually a strong signal of a short-term top.
Key support level: Pay attention to the previous support strength at 6.82. If it can hold steady, there’s a high probability of a retest of the top; once broken, the downward space will be fully opened.
$RAVE
At this point, do not blindly rush in! For highly volatile assets, it’s recommended to place orders in batches or wait until the RSI drops below 50 into the oversold zone to look for opportunities.
#$RAVE