RaveDAO drops 12% – Will whales push RAVE prices even lower?
RaveDAO (RAVE) has declined 12% in the past 24 hours, with the downtrend potentially continuing due to intense selling pressure from whale investors. Key indicators point to a weakening market: the Bull Bear Power (BBP) shows bullish conviction fading, while the Accumulation/Distribution (A/D) line confirms dominant selling activity.
Data identifies whales as the primary force behind the sell-off, with a whale-retail delta reading climbing to 0.272. Their influence is significant given their control over the vast majority of RAVE's supply on BSC, Base, and Ethereum chains. Concurrently, spot demand has collapsed, with net flows plunging to approximately -$269,000.
With whale selling ongoing, spot demand absent, and technical indicators deteriorating, RAVE's price remains in a precarious position and is vulnerable to further declines.
ambcrypto07/01 23:03
