The cryptocurrency RaveDAO (RAVE) surged over 29% in a single day, ranking as the third-highest gainer among the top 200 digital assets by market capitalization. Its weekly gains climbed beyond 45%, driven by increased holder growth, significant attention on major exchanges like Coinbase and Binance, and a 300% jump in trading volume. Technical analysis indicates a breakout from a long-term pattern, though liquidity data suggests potential price volatility ahead.
The entertainment-focused cryptocurrency RaveDAO has posted significant gains, rising more than 29% at press time. This increase positioned it as the third-largest gainer among the top 200 cryptocurrencies by market cap.
Weekly gains for the asset exceeded 45%, fueled by notable growth in its holder base. The number of holders increased to 45.88K from 45.75K over the past week, indicating rising trader interest.
The altcoin also garnered substantial attention by appearing on the top gainers charts for Coinbase Spot and Binance Futures. Concurrently, its trading volume skyrocketed by 300% to reach $75 million, according to CoinMarketCap data.
On the technical front, RAVE’s price broke free from a major inverted head-and-shoulders pattern, rallying past the $0.50 level. Market indicators suggested strong buyer momentum and a clear directional trend at the time of writing.
Analysis of liquidity clusters, however, reveals that much of it was forming below the $0.48 price point. Data from CoinGlass showed dense clusters of long orders stacked between $0.41 and $0.48.
This liquidity structure supports the possibility of a price retest toward the $0.40 neckline of the broken pattern. A successful hold above $0.50 could allow for a rally toward $0.60 and beyond.
