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Revain is a blockchain-based review and rating platform where users can voice their opinions, rate and review products, and discover new products as well. Users can receive REV tokens as rewards or incentives for high-quality reviews. This ecosystem is powered by AI technology to filter out low-quality reviews, conduct plagiarism checks, and identify the best reviews eligible for winning rewards. Let us look at the technical analysis for REV as below.
Past Performance
On Jun 14, 2021, REV opened at $0.01. On Jun 20, 2021, REV closed at $0.01. Thus, in the past week, there has been no significant change in the REV price. In the last 24 hours, REV has traded between $0.011-$0.0114.
https://s3.tradingview.com/snapshots/i/iWZRLyjH.png
Day-Ahead and Tomorrow
Currently, REV is trading at $0.011. The price hasn’t changed much from the day’s opening price of $0.01. Thus, the market seems neutral with equal pressures exerted by the bulls and the bears.
The MACD and signal lines have converged with the zero line and may turn negative soon. Moreover, a bearish crossover by the MACD line over the signal line has occurred. Thus, the overall market momentum is bearish. Hence, we can expect the price to start falling.
Currently, the RSI indicator is at 47%. It faced rejection at 50% and fell to the current level. Hence, selling pressures are high. Thus, the RSI indicator is giving further credence to the bearish signals shown by the MACD oscillator.
However, the OBV indicator is upward sloping. Thus, buying volumes are much higher than selling volumes. High buying activity will exert upward pressure on the REV price. There is bullish divergence here.
In short, when we look at all three oscillators together, we can say that the overall market momentum is negative. However, we can expect a trend reversal soon as heavy buying volumes are likely to weaken the bearish trend.
REV Technical Analysis
Currently, the price is below the third Fibonacci pivot resistance level of $0.0112. It may soon fall below the Fibonacci pivot point of $0.0108. Thereafter, we have to wait and watch if the price resumes its upward journey or falls further.
The price has tested and fallen below the 23.6% FIB retracement level of $0.0111. The price may soon fall below the 23.6% FIB extension level of $0.0109 as well. If the price retest and breakout of these levels, then probably a price uptrend has set in. In that case, we can expect the price to rise tomorrow as well.