Is RAVE’s 80% weekly rally just the start of a larger breakout?
The post Is RAVE’s 80% weekly rally just the start of a larger breakout? appeared on BitcoinEthereumNews.com.
RaveDAO [RAVE] has climbed over 80% this week after a whale withdrew 10M tokens worth $6.56M, tightening exchange liquidity and lifting price toward resistance. At the time of writing, RAVE traded around $0.63 after printing strong daily candles following sustained accumulation. The large Bitget withdrawal removes a notable chunk of supply from immediate circulation. As a result, available liquidity on exchanges appears thinner while buyers continue pressing higher. However, the 24-hour price action shows a slight pullback from recent highs, indicating short-term cooling near resistance. Despite broader market softness, RAVE maintained relative strength on the daily chart. That divergence highlights concentrated interest around the asset. If exchange balances continue shrinking while bids absorb minor dips, price structure could remain constructive into the next test of overhead resistance. RAVE: A neckline breakout coming? RAVE now approaches the $0.70 neckline after completing a rounded bottom that has developed gradually over several weeks. Price carved a base near $0.30 before advancing in a controlled recovery that reclaimed the $0.50 region and later stabilized above $0.575. The curvature signals sustained accumulation rather than speculative spikes, which strengthens the structure’s credibility. Buyers continue defending higher lows while compressing price beneath neckline resistance. However, the $0.70 zone has repeatedly attracted supply, which explains the recent intraday rejection visible on the chart. MACD has crossed above the signal line, and expanding green histograms reflect strengthening bullish pressure in the current phase. If bulls secure a firm daily close above $0.70, price could accelerate toward the $0.75–$0.78 liquidity pocket marked overhead. On the other hand, rejection followed by a break below $0.575 would likely shift focus back toward $0.49, where buyers would need to reassert structural control. Source: TradingView Rising OI signals growing speculative commitment Open Interest has climbed 29.21% to $46.70M, reflecting expanding leveraged positioning alongside the price…
Filed under: News - @ February 22, 2026 8:10 pm