RARI crypto price doubles, trading volume up 20x: Trend reversal incoming?
The RARI cryptocurrency, the native token of the Rarible NFT platform, experienced a significant price surge of 94.5% and a 20x increase in daily trading volume. Despite this spike, the price failed to break the $0.50 resistance level and retraced to $0.35. On-chain data reveals a lack of sustained user growth, with low active users and stagnant holder counts over the past year. The price analysis indicates a persistent long-term downtrend since January, and while the recent rally briefly passed a local high of $0.29, the overall structure remains bearish. The article concludes that this bounce is likely not a trend reversal but a selling opportunity, emphasizing that a break above $0.50 is needed to signal any technical reversal—though this is considered unlikely given the token's weak fundamentals.
ambcrypto12/30 01:02
