TL;DR Breakdown
- The Revain price analysis is bullish today.
- Strong support for REV is present at $0.0102.
- The resistance is found at $0.0112.
The Revain price analysis is bullish today as the bulls marched towards the $0.0123 level. As we know, the token has the tendency to shoot like a rocket and also to fall like a rock; likewise, it faced a strong rejection and fell down to $0.0096 level, but as bulls were in aggressive mode today, the price uplifted again towards $0.010 range. Overall the token has been bearish since November’s last bulls rally, as the cryptocurrency market turned bearish largely. Even today, a heavy sell-off is observed in the broader market, but REV bulls managed to march towards the highest point after 13th November’s spike.
REV/USD 1-day price chart: Rev swings high
The one-day Revain price analysis is confirming an uptrend for the day as a larger green candlestick has reappeared on the price chart despite the reduction in price during the last few hours. As the price is still at a higher level than yesterday’s price cap, the token has gained more than 16 percent value during the last 24 hours, as it is trading at $0.0105 at the time of writing.
On the other hand, the token reports almost an equal loss over the past week as the price has come up to almost the same level it was at a week earlier, but the reason for the weekly loss is the wild swing high observed on 13th December towards $0.0176 which was an exceptionally high level. Today’s trading volume is also high by 33 percent, and the market cap has also improved by 17 percent.
The Bollinger bands Indicator predicts the volatility is comparatively low, as the upper band is now at the $0.0115 mark representing resistance for REV/USD, and the lower band is at the $0.0078 mark. The Relative Strength Index (RSI) has also shot straight upwards towards the center of the neutral zone at index 50 due to the aggressive buying activity observed today.
Revain price analysis: Recent developments and further technical indications
The 4-hour Revain price analysis reveals the token price did not move much at the start of the trading session for four hours but skyrocketed in the next four hours towards $0.0120, a strong rejection was seen, and the price spiraled down, but bulls managed to not let the price go in loss compared to yesterday’s price level as the token is still up by 16 percent.
As the token swang wildly high, the Bollinger bands started to expand but took a turn due to the bearish pressure that came in. Because of the increase in volatility, the upper band is now at $0.0108, and the lower band is at $0.0076. The RSI curve has descended down but is at a slight upwards curve at index 56. the upwards curve is an indication of the presence of the bullish element.
Revain price analysis: Conclusion
The Revain price analysis suggests the token has managed to achieve a higher price level due to the aggressive bulls rally observed today. Currently, the price level is declining, but we expect the token to maintain a price level above $0.0102, as the RSI is hinting at the presence of support at the current price level.
Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
