RaveDAO’s RAVE token surged 35.93% to $0.3886 in 24 hours, backed by a 74.74% jump in trading volume to $3.41 million. The price is testing key resistance at $0.40, with strong derivatives activity and bullish trader positioning supporting the move, though volatility near this level remains a factor.
The cryptocurrency RaveDAO [RAVE] experienced a significant price increase of 35.93% over 24 hours, reaching $0.3886. Its trading volume simultaneously jumped 74.74% to $3.41 million, highlighting strong capital participation behind the move.
RAVE price pushed toward an intraday high of $0.403 before encountering selling pressure. Buyers have been quick to absorb pullbacks, demonstrating conviction behind the rally.
Earlier price action saw a liquidity sweep at the $0.247 level, which flushed weaker hands before buyers reclaimed the $0.321 zone. The price now compresses beneath the $0.40 resistance, establishing it as the next pivotal level.
Directional indicators confirm an active trend environment, with the Average Directional Index (ADX) stabilizing around 27.31. The positive directional indicator (+DI) at 30.07 maintains an advantage over the negative one (-DI) at 26.53, indicating buyers retain control.
Open Interest (OI) has surged 63.02% to $20 million as the price advances. “When OI expands alongside price, traders typically build directional exposure with conviction,” reinforcing the rally’s legitimacy.
Data from CoinGlass shows this alignment. However, elevated leverage also increases sensitivity to volatility spikes near resistance.
Binance top traders currently hold 56.01% long exposure against 43.99% short positioning, producing a 1.27 Long-to-Short Ratio. This skew indicates experienced participants align with the ongoing breakout attempt, as stated.
Positioning has gradually shifted upward in recent sessions, signaling strengthening confidence. A decisive move above $0.40 would validate this long exposure.
