4.17 RAVE Analysis



After a short-term surge of 6000%, 90% of the chips are concentrated in a few wallets, with extremely thin liquidity; yesterday, there was already a $28.67 million futures liquidation, indicating a strong willingness to realize profits, and the risk of dumping is increasing.

The 4-hour chart surged to 18.56 and then pulled back, breaking below the middle band of the Bollinger Bands at 13.61, indicating the upward channel has been broken; the KD indicator has turned at a high level, and bullish momentum is waning. Currently, 16.46 faces obvious resistance, with strong resistance in the 17-18 range above, and support at 14 below. If broken, it will quickly drop to 12 or even 10.

Previously, Jin'an was optimistic that RAVE would break through; at present, it is not recommended to chase the high again. For those holding a lot, it’s advised to fold and reduce positions!

Everyone knows this meme coin can collapse at any time! Since it’s a meme coin, it’s unfathomable, and everything is unpredictable.

Operation suggestion: 16.5-18 range, target 15.5-12.
RAVE24,43%
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