🎯 LONG SETUP – $RAVE 🎯
Entry Zone: 0.5750- 0.5530
Stop Loss: 0.5008
Take Profit Targets:
∙ TP1: 0.6400
∙ TP2: 0.6850
∙ TP3: 0.7350
🔥 Bullish Justification
RAVE has recently experienced a strong rally from a low of 0.35703 to a high of 0.79581 and is currently in a healthy correction phase towards the zone of 0.59380. The price is consolidating and forming a higher low structure on the 1-hour chart after the pullback, indicating that the upward momentum is still strong and accumulating energy for the next increase.
The trading volume reached 51.34M, significantly higher than the MA(10) at 23.51M, showing that liquidity is increasing strongly and capital is flowing in. MA(7) at 0.51982 is positioned below the price and provides good dynamic support, while the price is above MA(25) at 0.48525 and MA(99) at 0.46914, indicating that the medium-term upward trend remains intact.
This setup has a high probability as the range of 0.5850 - 0.6000 is currently an accumulation zone after correction, situated between MA(7) and the current price. The performance is impressive with today’s increase of 36.41% and a 7-day increase of 19.06%, indicating very strong upward momentum, with a buy-sell ratio of 43.48% vs 56.52%. Although it leans towards selling, this is normal profit-taking after the pump. If the price can hold this range and break through 0.62, it will trigger a strong rally to retest the old high of 0.795 or even surpass it to create a new ATH.
